US Central Command launches second wave of strikes against Iran as crypto markets absorb the shock

US forces launched a second wave of precision strikes against Iranian military targets on Wednesday afternoon, with CENTCOM expanding its campaign to degrade Tehran’s ability to threaten one of the world’s most critical oil chokepoints. The Strait of Hormuz, through which a massive share of global petroleum flows daily, sits at the center of this escalation.

The latest round targeted approximately 80 to 90 sites, including air defense systems, missile installations, and vessels tied to the Islamic Revolutionary Guard Corps. Locations hit reportedly included Bushehr, Chah Bahar, and Bandar Abbas, all strategic military nodes along Iran’s southern coastline.

A conflict that’s been building fast

This second wave didn’t come out of nowhere. Earlier strikes on July 7 and 8 had already hit roughly 170 sites across two rounds, making this one of the most concentrated US military campaigns against Iranian infrastructure in modern history.

The operations were initiated under President Trump’s directive after what officials described as a violated ceasefire. Iran had declared its intention to close the Strait of Hormuz and taken aggressive action against commercial shipping.

The IRGC’s naval assets and coastal missile batteries were the primary focus, a clear signal that Washington’s objective is to neutralize Iran’s capacity to disrupt maritime traffic rather than pursue broader regime-change operations.

Crypto’s surprisingly calm response

Bitcoin fluctuated between $62,000 and $71,500 during the initial phases of the conflict, and the second wave of strikes produced only a modest dip of around 2%.

Total liquidations across crypto markets reached an estimated $350 million to $450 million following the strikes. For context, crypto markets have seen liquidation events exceeding a billion dollars on days with far less dramatic catalysts.

No specific crypto tokens were directly linked to the conflict according to multiple reports.

What investors should actually be watching

Traders should be watching crude oil futures, the VIX, and Treasury yields as leading indicators for how this filters into crypto. The pattern from the July 7–8 strikes is instructive: markets dipped, absorbed the shock, and largely recovered within days. A second wave changes the calculus because it signals this isn’t a one-and-done punitive action. It’s a campaign.

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