The US Central Command carried out strikes against missile launch sites and Iranian boats near Bandar Abbas on May 25, marking the most significant military escalation since a ceasefire took effect on April 8. Hours before the strikes landed, Tehran publicly stated that a comprehensive deal with Washington was not imminent.

Bitcoin, already jittery from weeks of geopolitical noise, has been trading in a volatile $63,000 to $72,000 range. Brent crude surged over 2% to roughly $102 in the immediate aftermath, dragging risk assets into familiar territory: sell first, ask questions later.

What happened and why it matters

CENTCOM described the operation as “limited self-defense strikes,” targeting missile sites and…