The US military launched strikes against Iranian targets for a third straight night on July 13-14, following President Trump’s reinstatement of a naval blockade on Iranian ports. The escalation, paired with a proposed 20% fee on all cargo transiting the Strait of Hormuz, sent ripples through every asset class that trades on a screen, crypto very much included.

Bitcoin dropped more than 2%, sliding to the $62,000-$63,000 range. Ethereum, Solana, and other major altcoins followed it down in near-lockstep.

What happened and why it matters

The strikes came after a ceasefire broke down earlier in July and Iranian forces reportedly attacked commercial shipping vessels in the Strait of Hormuz. That narrow waterway…