Two US service members were killed on July 14 when Iranian missiles struck the Al-Azraq Air Base in Jordan, a facility used by American military personnel. The US responded with retaliatory airstrikes targeting Iranian positions, and what followed was a week of escalating military exchanges that sent shockwaves through every asset class that moves on a screen.
The crypto market took a swift hit. Bitcoin, which had been trading near $65,500 before the strikes, slid below $64,000 in the immediate aftermath. Some reports indicated BTC dipped as low as $63,000 during the most intense period of the conflict. An estimated $128 billion was wiped from the total cryptocurrency market capitalization during the escalation.
