US military forces hit Iranian missile sites, boats, and a ground control station near Bandar Abbas over the May 25-27 window, sending shockwaves through crypto markets that are still reverberating. Bitcoin dropped below $73,000, its lowest price in months, while the broader digital asset market shed roughly $80 billion in total value.

The Pentagon framed the strikes as self-defense measures responding to Iranian drone and missile activities threatening American forces and shipping lanes in the Strait of Hormuz. Iran called them a violation of an already fragile ceasefire established in early April.

The damage across crypto markets

Bitcoin’s slide below $73,000 triggered a cascade of forced selling. Reports…