US-Israel strikes hit military sites in Iran’s Bushehr province as crypto markets brace for impact

US and Israeli forces struck two military sites in Iran’s Bushehr province, extending a campaign that has kept energy markets on edge and sent shockwaves through risk assets, including crypto.

The strikes targeted military infrastructure in a region best known for housing Iran’s only operational nuclear power plant.

What’s happening in Bushehr

The latest strikes are part of a broader military campaign, Operation Epic Fury, which commenced on February 28, 2026, with nearly 900 combined US and Israeli strikes against Iranian military and leadership targets. Bushehr province, and specifically sites near the town of Khormuj, has been hit on multiple occasions since the campaign began.

The IAEA reported in early April 2026 that a projectile struck near the Bushehr nuclear power plant, resulting in one fatality.

Iranian officials have acknowledged damage to military infrastructure in the area. However, there have been no verified reports of damage to the nuclear facility itself.

How the conflict is bleeding into crypto

Bitcoin dropped below $73,000 as the strikes escalated, a sharp decline that triggered nearly $1 billion in liquidations across the crypto market.

The correlation between surging energy prices and crypto drawdowns isn’t new, but this conflict has made it impossible to ignore. Rising oil prices feed into inflation expectations, which feed into expectations of tighter monetary policy, which feed into pressure on risk assets.

The broader geopolitical picture

Operation Epic Fury represents the most significant direct US military engagement with Iran in decades. The scale of the initial campaign, nearly 900 strikes in the opening phase, signals that this is not a one-off retaliatory action but a sustained military operation.

The IAEA has been monitoring the Bushehr nuclear plant for years, and any military activity in the vicinity raises questions about nuclear safety that transcend the immediate conflict.

What this means for crypto investors

Bitcoin’s slide below $73,000 and the accompanying liquidation wave demonstrate how leveraged the market remains. When external shocks hit, the cascade of forced selling amplifies the initial move.

The key variable to watch is oil. If energy prices continue climbing as the conflict drags on, the pressure on risk assets will persist. Higher oil prices feed directly into inflation data, which constrains central banks’ ability to cut rates.

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