Israel raises defense alert level amid reports of potential US strikes on Iran, rattling crypto markets

Israel elevated its national defense posture this week following reports that the US may be preparing intensified strikes against Iranian targets. The move, driven by fears that Tehran would retaliate against Israel, has injected fresh uncertainty into global markets, and crypto is feeling the tremors. Israeli Energy Minister Eli Cohen addressed the situation publicly on July 23, warning that Israel stands ready to respond forcefully to any Iranian aggression. What’s actually happening The defense alert escalation came around July 22, following a period of intensifying US-Iran military friction that traces back to late February. A series of joint US-Israeli strikes against Iranian assets earlier this year kicked off what has become a grinding cycle of retaliatory attacks and failed diplomatic overtures. The Strait of Hormuz, the narrow waterway through which roughly a fifth of global oil passes, has emerged as the geographic flashpoint. Recent skirmishes near the strait have amplified fears of a broader conflict that could disrupt energy supplies on a massive scale. President Trump has publicly urged restraint while simultaneously weighing further military options. A fragile ceasef...