Bitcoin (BTC) plunged to $76,000 amid U.S. -Iran military escalation-strategy taking advantage of th

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Digital asset markets are under pressure, energy markets soar due to shipping corridor concerns

Bitcoin prices plunged to US$76,762 after U.S. military action targeted Iranian Revolutionary Guard positions. The cryptocurrency market saw a long liquidation of $115 million in 60 minutes, and Ethereum fell below $2,400. The oil market reacted violently, with Brent crude approaching US$93 due to concerns about a disruption in the Strait of Hormuz. Traditional markets sold off, the S & P 500 index fell to an August 4 low, and government bond yields climbed. Strategy increased its holdings of 4,603 bitcoins worth $368.7 million, its first acquisition in more than two months.

The cryptocurrency market experienced severe turmoil on Tuesday after news of a coordinated strike by U.S. military assets on Iran's Islamic Revolutionary Guard Corps (IRGC) facilities was confirmed. Bitcoin prices plunged to $76,762, quickly falling below key support levels of $78,000 and $77,000.

Official confirmation from the U.S. Central Command shows that the military operation began at noon (Eastern Time) on Tuesday. The strike targeted IRGC facilities believed to be involved in naval mine-laying operations near the strategic Strait of Hormuz.

Tehran-controlled media outlets reported explosions occurred in multiple locations including Qeshm Island, Bandar Abbas port city and Chabahar. Iran's Fars News Agency quoted an IRGC spokesman as warning that Washington "will regret its new attack."

In a public statement, U.S. President Trump Describing the military operation as "massive and powerful." He issued a stern warning, saying any Iranian counterattack would trigger a "harsher, higher-level" response from the United States.

Tehran also responded with a show of force by launching a ballistic missile at Camp Titan, a US military base in Jordan. According to Jordanian government media, the air defense system successfully intercepted and destroyed eight incoming missiles.

Digital asset markets are under pressure

Amid the turmoil, cryptocurrency analyst Nebraskangooner shared his market views on the X platform. He believes that Bitcoin's August closing makes a price bottom "more likely", but he emphasized that $73,500 is a key support level. He sees this level as a failure point for a bullish scenario and points out that if prices remain above that threshold, potential upside targets include $87,000 and $97,000.

Ethereum also faced downward pressure, falling below the US$2,400 mark during the same period. Coinglass data showed that in just 60 minutes, approximately $115 million of long leveraged positions were forcibly closed.

A similar sell-off occurred in traditional financial markets. The S & P 500 fell back to levels not seen since early August, while U.S. Treasury yields climbed as investors sold bonds amid heightened concerns about inflation trajectories and widening fiscal obligations.

Market participants have raised their expectations for the Fed to raise interest rates in September after Federal Reserve Chairman Kevin Walsh made clearly hawkish remarks at the Jackson Hole economic symposium last Friday.

Energy markets surge amid concerns over shipping lanes

Brent crude oil futures climbed to near US$93 a barrel as market participants closely monitored maritime traffic through this strategic waterway. West Texas Intermediate crude oil is also approaching the $90 mark.

From unconfirmed reports that two commercial oil tankers were damaged while passing through the Strait of Hormuz exit channel, exacerbating concerns about supply disruptions and making the market even more tense. Iranian government representatives warned that oil exports from the Persian Gulf could face serious disruption if external pressure continues.

The outbreak of geopolitical tensions comes just a day after Bitcoin ended its strongest monthly performance since November 2024, when Bitcoin rose about 25% in August.

In a regulatory filing, Strategy revealed that it acquired 4,603 bitcoins last week for approximately $368.7 million-the company's first increase in holdings since the end of June. The deal raised funds through a $602.8 million common stock offering, increasing Strategy's total bitcoin reserves to 845,050.