Less than 20 days after the ceasefire between the US and Iran, the situation has changed again: the US has intensified its attacks on Iran, revoked oil waivers, and increased the scale of its strikes fivefold.
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Following the "end" of the US-Iran ceasefire, cryptocurrency and stock markets experienced widespread declines.
PANews reported on July 8th that, according to CoinDesk, the US launched airstrikes against Iranian Islamic Revolutionary Guard Corps ships, and Iran subsequently attacked Kuwait and Bahrain. US President Trump announced the "end" of the ceasefire with Iran, calling the negotiations "meaningless," causing a sharp drop in global risk appetite. Bitcoin and Ethereum fell by more than 2%, the CoinDesk 20 index fell by nearly 3%, and Nasdaq 100 and S&P 500 futures fell by about 1.5% at one point. In the crypto derivatives market, BTC futures open interest declined slightly, while ETH triggered approximately $90 million in long position liquidations during the price drop. Overall, the 24-hour crypto market saw approximately $450 million in liquidations, of which approximately $350 million came from Altcoin trading pairs. Altcoins generally fell, and Solana erased all gains since July.
A summary of the latest situation in the Middle East: Trump approves plan to strike Iran; Iran believes the US will cause peace talks to fail.
BlockBeats reports the following is a summary of the latest situation in the Middle East on July 8th: Conflict Situation: Trump approved the strike plan against Iran. US officials stated that the strike against Iran was a "punitive action, not a reciprocal response," and that the operation "will not end anytime soon." A US official stated that the strike launched by the US against Iran on Tuesday was four to five times larger and more powerful than the strike launched 10 days earlier. The US revoked a general license authorizing the sale of Iranian oil, allowing related final transactions to continue until midnight Eastern Time on July 17th. This move is reportedly in response to Iran's recent firing on three merchant ships in the Strait of Hormuz. The Iranian Foreign Ministry stated that some merchant ships were sailing without coordination and had turned off or tampered with AIS signals, hindering safe navigation in the Strait of Hormuz. It urged regional countries and shipping companies to avoid any actions that violate the memorandum. The U.S. Central Command stated that its forces have initiated a series of powerful strikes against Iran in response to Iranian targeting and attacks on commercial shipping operated by civilian crews in international waterways. Iran's Foreign Ministry condemned the U.S. Treasury Department's revocation of the temporary suspension of sanctions on Iranian oil sales. U.S.-Iran Negotiations: Iranian Foreign Minister Araqchi stated that if the threats persist, negotiations for a final agreement will not begin; please honor your commitments. Iran's Supreme Leader's advisor, Rezaei, stated that it is clear the U.S. will cause the negotiations to fail. Lebanese diplomatic sources indicated that Lebanon refused to hold the sixth round of Lebanon-Israel talks in Rome, insisting that negotiations should continue in Washington. Strait of Hormuz: A liquefied natural gas (LNG) carrier was attacked in the Gulf of Oman. Multiple explosions occurred in the southern Iranian port city of Sirik. Explosions were heard on Qeshm Island and Bandar Abbas in southern Iran. British Maritime Authority: The threat level in the Strait of Hormuz has been raised to "serious".
Trump says the temporary ceasefire agreement between the US and Iran has ended.
BlockBeats reported on July 8 that US President Trump stated that the temporary ceasefire agreement he reached with Iran had ended, increasing the possibility of a renewed military conflict between the two countries. "For me, I think it's over," he said at the annual NATO summit on Wednesday. "As far as I'm concerned, it's just a waste of time." Trump's remarks came shortly after the US launched a new wave of strikes against Iran and revoked waivers allowing the sale of Iranian oil. These actions were a response to the recent attacks on ships in the Strait of Hormuz, bringing new volatility to energy markets and testing the already fragile peace agreement between the US and Iran. Trump stated, "I don't want to deal with them, but they're scum. You know what scum is? They're scum. They're sick people, led by sick people, they're vicious and violent people, and if they had nuclear weapons, they would use them." However, Trump indicated he would not prevent negotiators from continuing contact, although he expressed pessimism about this strategy. He said, "They have problems, they're crazy. They can talk, but I think they're wasting their time." (Jinshi)
Iran announces initial response to the US: strikes against 85 key US military facilities.
PANews reported on July 8th that, according to Jinshi News, the Iranian Islamic Revolutionary Guard Corps (IRGC) issued a statement saying that the United States has once again repeated its usual treacherous practices, with its forces launching airstrikes on several coastal bases and civilian facilities in Hormozgan Province and the Maheshahr coastal region in the early hours of today, blatantly violating the ceasefire agreement and trampling on the Islamabad Memorandum of Understanding. In an initial response to this aggression, the IRGC Navy and Aerospace Force conducted a joint missile and drone operation, destroying 85 key US military facilities located in Salman Port, the Bahrain Fifth Fleet base, and the Ali Salim Air Base in Kuwait. Simultaneously, an enemy MQ-9 drone attempting to intervene in the operation was shot down.
Bitunix Analyst: Canceling Iranian Oil Waivers and Deteriorating Hormuz Situation Increase Risk Asset Volatility
According to BlockBeats, on July 8th, global markets were focused on the renewed deterioration of the situation in the Middle East. The US not only expanded its military strikes against Iran but also revoked waivers for Iranian oil sales, further escalating security risks in the Strait of Hormuz. International oil prices surged by approximately 5%, reflecting the market's re-inflation of energy supply uncertainty. The situation is no longer just a simple military conflict; rather, it involves a simultaneous increase in risks to energy transportation and the global supply chain. Iran continues to strengthen its claims to control the Strait of Hormuz, while the US military has raised the local shipping threat level to "serious," indicating that global energy transportation remains highly volatile. On the other hand, Saudi Arabia's plan to expand its Red Sea oil pipeline shows that major oil-producing countries have already planned alternative transportation routes to reduce their dependence on the Strait of Hormuz. Regarding monetary policy, New York Federal Reserve President Williams stated that lower energy prices have helped improve short-term inflation, but policy remains in an appropriate position. He did not provide clear guidance on future interest rate direction, and the Fed will continue to adjust policy based on economic data. It is worth noting that the risks in the US technology sector have also increased simultaneously. Nasdaq 100 volatility has reached a two-decade high, with AI-related trading remaining highly concentrated. Some Wall Street institutions have begun using options for hedging and are gradually shifting funds towards defensive sectors such as healthcare and consumer staples, reflecting profit-taking pressure on highly valued tech stocks. In the crypto market, Bitcoin remains range-bound. Short-term market liquidity is mainly concentrated in four key liquidation zones: $62,500 and $60,000 on the downside, and $64,300 and $67,700 on the upside. With continued macroeconomic disruptions, prices may still see liquidity liquidation around highly leveraged positions, and short-term volatility is expected to remain high. The market will continue to monitor developments in the Middle East, oil prices, and global risk sentiment.
US officials confirmed that the strikes against Iran "will not end anytime soon," and that their scale and intensity will increase simultaneously.
BlockBeats reports that on July 8th, US officials stated that the recent strikes against Iran were "punitive, not reciprocal," and that the operation "will not end anytime soon." Another US official stated that the strikes launched against Iran on Tuesday were four to five times larger and more powerful than the strikes conducted 10 days prior. (AXIOS)