The fragile peace between Israel and Iran lasted roughly two months. On June 7, 2026, both nations resumed direct military strikes, shattering a US-mediated ceasefire that had been in place since April and sending immediate shockwaves through global financial markets, crypto included.

Bitcoin dropped toward $63,000 as the first reports of escalation hit news feeds. It recovered above $63,700 once word spread that both sides had paused offensive operations.

What happened on the ground

Iran initiated the latest round by launching missiles toward Israel on June 7. Israel responded with airstrikes targeting multiple Iranian cities, including Tehran, Tabriz, and Isfahan. Petrochemical facilities were among the…