U.S.-Iran Strikes Send Bitcoin to 6-Week Low!

U.S. military strikes in southern Iran have rattled global markets, pushing Bitcoin to a six-week low as investors fled risk assets. Iran's Revolutionary Guards claimed retaliation by targeting the American base used to launch the attacks, warning future responses would be "more decisive." Kuwait, which hosts five U.S. bases, reported intercepting hostile drones and missiles.

The escalation has effectively killed near-term hopes for a Strait of Hormuz stabilization deal. Ceasefire odds on Polymarket collapsed to just 8% by month-end — down from a 70% peak over the weekend — while end-of-June odds fell from 76% to 42%. Brent crude surged nearly 4% to around $96 per barrel, stoking fresh inflation fears ahead of Thursday's PCE report.