US pauses strikes on Iran after 13 consecutive nights as crypto markets feel the heat

After 13 straight nights of US strikes on Iranian targets, Washington hit the pause button. President Trump confirmed that diplomatic talks with Tehran are underway, but made clear the military is standing by if negotiations stall. For crypto markets, the damage is already done. The extended campaign of strikes, centered on threats to shipping routes through the Strait of Hormuz, triggered a classic risk-off flight that drained roughly $80 billion from crypto’s total market capitalization. What happened and why it matters US Central Command carried out at least 13 consecutive nights of strikes focused on Iranian military capabilities deemed a threat to commercial shipping. The campaign represented one of the most sustained periods of direct US military action against Iran, and it followed the collapse of a ceasefire that had been established in June. That June ceasefire had briefly calmed nerves across global markets. Its breakdown reignited hostilities and pushed oil prices above $100 per barrel for the first time since May. Trump’s messaging has been deliberately dual-track. He’s touting the existence of negotiations while simultaneously reminding Tehran, and the world, that the ...