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US Central Command confirms defensive strikes in southern Iran, crypto markets shed $300M in liquidations

US Central Command confirms defensive strikes in southern Iran, crypto markets shed $300M in liquidations

US Central Command confirmed that American military forces carried out defensive strikes against Iranian missile and drone launch sites in southern Iran on May 7-8. The operation targeted military infrastructure after Iranian forces launched unprovoked missile and drone attacks against three US Navy guided-missile destroyers transiting the Strait of Hormuz.

The crypto market’s response was swift and predictable. Roughly $300 million in futures liquidations hit the books as Bitcoin experienced intraday price dips, with traders scrambling for the exits in a textbook risk-off reaction.

What happened in the Strait of Hormuz

The strikes came after Iranian forces targeted three US Navy destroyers: the USS Truxtun (DDG…

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