US Launches New Strikes on Iran, Bitcoin Drops 2% as Crypto Liquidations Near $1 Billion
New US Strikes on Iran Shake Crypto Market, Bitcoin Falls to $61,000
The United States launched a new wave of military strikes against Iranian targets on June 10, marking the latest escalation in a conflict that has once again pressured the cryptocurrency market. Following the news, Bitcoin fell about 2% to around $61,000, while total crypto liquidations approached $1 billion within 24 hours.
What Happened and Why It Matters for Markets
US Central Command (CENTCOM) said it carried out what it described as self-defense strikes against Iranian military capabilities. The operation targeted surveillance systems and air defense installations in southern Iran near the Strait of Hormuz, one of the world’s most critical energy trade routes.
The strikes came in response to growing threats from Iranian missile and drone activities. Earlier, a US Apache helicopter was reportedly downed in the conflict zone, increasing pressure on Washington to respond militarily.
Similar military actions in May also triggered significant market volatility. During that period, the total cryptocurrency market capitalization fell by about $80 billion, while Bitcoin dropped below $73,000 as investors rushed to reduce risk.
Ongoing Conflict and Regulatory Pressure
The current conflict traces back to February 28, 2026, when major US-Israel military operations sparked a prolonged, multi-phase engagement in the region.
On June 2, just eight days before the latest strikes, the US Treasury Department imposed sanctions on Nobitex, Iran’s largest cryptocurrency exchange, and its founders. US authorities cited alleged links between the platform and Iran’s Islamic Revolutionary Guard Corps (IRGC).
The sanctions carry broader implications for the crypto industry. Exchanges, wallet providers, and other entities that interact with addresses linked to Nobitex could face potential enforcement actions from US regulators.
What It Means for Crypto Investors
Bitcoin was trading above $73,000 before the market turbulence in May. After falling amid geopolitical tensions, the cryptocurrency partially recovered before dropping again to around $61,000 following the June 10 strikes.
The nearly $1 billion in liquidations within a single day suggests that many traders were heavily leveraged and positioned for further upside. When geopolitical developments abruptly shifted market sentiment, those positions were liquidated, intensifying selling pressure across the crypto market.
