Iranian state television reported early Sunday that enemy projectiles struck military sites in Bushehr province, the southern region home to Iran’s only operational nuclear power plant. The strikes sent immediate shockwaves through global financial markets, and crypto was no exception.

Bitcoin dropped sharply below $73,000 in the hours following the reports, trading as low as $61,688 as risk-off sentiment gripped the market. Nearly $1 billion in liquidations swept across the crypto market, catching leveraged traders on the wrong side of what turned into one of the most violent geopolitical sell-offs of 2026.

What happened in Bushehr

According to Iranian state media, US or US-Israeli projectiles targeted military…