The US military conducted new strikes on July 29 against Islamic Revolutionary Guard Corps sites in southern Iran, targeting locations in Bandar Abbas, Kish Island and Qeshm Island. Bitcoin dropped 1-3% as the latest escalation in US-Iran tensions, which trace back to joint US-Israel operations launched on February 28, 2026. In April 2026, US sanctions froze approximately $344 million in Iranian-linked digital assets. Three factors warrant close monitoring: potential Iranian retaliation, the opening of diplomatic channels, or the Treasury Department expanding sanctions to crypto networks.
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