TLDR
- The U.S. military carried out fresh “defensive” strikes in southern Iran targeting missile sites and mine-laying boats
- Secretary of State Rubio said reopening the Strait of Hormuz could “take a few days” but will happen “one way or another”
- Bitcoin fell below $77,000 as geopolitical uncertainty pushed investors toward safer assets like gold and the dollar
- U.S. spot Bitcoin ETFs recorded net outflows after a strong stretch of institutional buying
- Most altcoins fell Tuesday, with Solana down 1.4%, Dogecoin down 1.3%, and XRP down 0.7%
The U.S. military hit targets in southern Iran on Monday. The strikes targeted missile launch sites and boats attempting to lay mines, according to CENTCOM spokesperson Tim Hawkins.
🚨 CENTCOM confirms defensive strikes on IRGC ships that were caught laying mines in the Strait of Hormuz and on a surface to air missile site in Bandar Abbas that was targeting U.S. aircraft.
A U.S. official made clear that this does not indicate the ceasefire with Iran is… pic.twitter.com/Ll5dQSzexX
— Benny Johnson (@bennyjohnson) May 25, 2026
Hawkins called the strikes “defensive” and said they did not mean the ceasefire with Iran had ended. “U.S. Central Command continues to defend our forces while using restraint during the ongoing ceasefire,” he said.
Iran’s parliament national security committee head, Ebrahim Azizi, warned of retaliation. It was not immediately clear if Iran had responded with any strikes of its own.
Secretary of State Marco Rubio said a deal to reopen the Strait of Hormuz could “take a few days,” but that the waterway would reopen “one way or another.”
Reports over the weekend had suggested the U.S. and Iran were close to a framework deal. That deal would reopen the Strait and include commitments from Iran not to pursue nuclear weapons.
Bitcoin Slides as Investors Seek Safety
Bitcoin dropped below $77,000 on Tuesday, falling 0.6% to $76,946. The fresh strikes renewed uncertainty in financial markets and pushed investors toward safer assets like the dollar and gold.
Oil prices rebounded nearly 2% in Asian trading, keeping inflation concerns in focus.
The drop follows a volatile stretch for Bitcoin. Traders have been moving in and out of positions based on shifting news around a possible U.S.-Iran deal.
Bitcoin ETF demand, which had been a key driver of price gains this year, also showed signs of cooling. U.S. spot Bitcoin ETFs recorded net outflows after strong institutional buying earlier in the quarter.
Analysts pointed to elevated Treasury yields and persistent inflation concerns as added pressure on crypto. Traders are also pulling back expectations for near-term Federal Reserve rate cuts.
Altcoins Also Fall
Most altcoins moved lower on Tuesday. Ethereum lost 0.3% to $2,101. XRP fell 0.7% to $1.35.
Solana dropped 1.4% and Cardano fell 0.7%. Dogecoin slipped 1.3%. Polygon was the exception, rising 1.4%.
Investors are now watching Thursday’s personal consumption expenditures (PCE) data, the Fed’s preferred inflation measure. The result could shift expectations around rate cuts and affect crypto prices further.
Trump also said Monday that Iran’s enriched uranium would be turned over to the U.S. or destroyed. He added that negotiations with Iran were “proceeding nicely” earlier in the day.
The outcome of those talks remains the key factor markets are watching.
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