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Israel’s defense minister has confirmed that Israel and the United States are pursuing independent but coordinated efforts to counter Iran’s nuclear program. The operations, according to Defense Minister Israel Katz, have already set back Iran’s capabilities at key facilities.
What Israel is saying, and what it’s doing
Israeli officials say they’ve taken concrete actions targeting Iran’s nuclear infrastructure at three of the country’s most critical sites: Natanz, Fordow, and Isfahan.
Natanz is Iran’s primary uranium enrichment facility, buried partially underground. Fordow is carved into a mountain, designed specifically to survive aerial bombardment. Isfahan houses uranium conversion capabilities. These are the crown jewels of Iran’s nuclear ambitions, and Israel says it has degraded all three.
The broader military campaign falls under what’s been called “Operation Rising Lion,” which targets both nuclear infrastructure and missile sites. Israeli preparations for strikes reportedly intensified in May 2025, even as diplomatic negotiations were still underway.
Rather than a single surgical strike, the current approach appears to involve sustained, multi-site operations conducted in parallel with the United States. Katz framed the US and Israeli efforts as complementary but independent.
Crypto markets caught in the crossfire
Bitcoin dropped below $104K as the military actions against Iran intensified in June 2025. Over $700 million in liquidations hit the crypto market amid the escalation. Liquidations happen when leveraged traders get their positions automatically closed because the market moved against them too fast. When $700 million worth of those fire simultaneously, it tells you the market was heavily positioned in one direction and got caught flat-footed.
The diplomatic backdrop
The original Iran nuclear deal, the JCPOA, collapsed in 2018 when the US withdrew under the Trump administration. Since then, Iran has progressively expanded its enrichment activities, bringing centrifuges online at Fordow and Natanz.
By 2026, Iran has proposed modifications to nuclear discussions. But Israel has drawn a hard line: nothing short of dismantling enrichment infrastructure will satisfy its security requirements.
What this means for investors
The $700 million in liquidations didn’t happen because traders expected strikes on Iranian facilities. They happened because traders didn’t.
Leverage is the variable that turns geopolitical noise into portfolio destruction. The traders who got liquidated weren’t necessarily wrong about Bitcoin’s long-term trajectory. They were wrong about how much short-term pain their positions could absorb.
When forced selling exceeds $500 million in a single event, it signals that the market’s leverage structure is fragile.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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