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US strikes near Strait of Hormuz spark Iran backlash and Bitcoin drops below $77K amid $300M crypto liquidations

Market News
26 May 2026
Crypto Briefing
View Source
Bearish
pluang ai news

The US military conducted strikes on Iranian missile sites near Bandar Abbas, calling it a defensive move against threats, while Iran condemned it as a ceasefire violation and vowed retaliation. This escalated geopolitical tensions near the critical Strait of Hormuz, a key oil transit route. Bitcoin briefly fell below $77,000, triggering about $300 million in crypto liquidations due to sudden market volatility. Investors should watch for potential regulatory actions targeting crypto linked to Iran and the impact of possible oil price surges on inflation and Fed policy.

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