The conflict between Iran and Israel reignites, Trump scrambles to contain it, pre-market positive news from Huang Renxun fails to revive the South Korean stock market, and Bitcoin rebounds strongly.
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Poll: US-Iran conflict seen as "more harm than good," Trump's approval rating drops to 36%.
According to a recent Focaldata Odaily, a majority of American voters believe the Trump administration's military action in Iran is "not worth the cost." The survey, conducted from June 26 to 30, covered 1,795 registered voters and has a margin of error of ±2.7%. Data shows that 58% of respondents believe the current costs of the war are not worthwhile. Meanwhile, 44% of voters believe the conflict puts the US at a weaker position in its relationship with Iran, while only 31% believe it gives the US an advantage. Polls show widespread skepticism among voters regarding the so-called "memorandum of understanding" reached between Washington and Tehran. Approximately 66% of respondents believe the agreement will offer little improvement to peace and stability in the Middle East, and may even exacerbate instability or increase the risk of conflict; only about 20% believe it will contribute to achieving peace. Polls show that only 36% of voters approve of Trump's performance, a 2-percentage-point drop from the previous month. Among them, support among independent voters fell to 21%, a more significant decline of 8 percentage points. This trend is putting pressure on Republicans ahead of the upcoming November 2026 midterm elections. In the survey, 44% of respondents said they would support the Democratic candidate in the congressional elections, 6 percentage points higher than the 38% who supported the Republicans; a month ago, the Democrats had a 4-point lead.
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".
The whereabouts of Iran's new Supreme Leader remain unknown, and Tehran continues to hold mourning ceremonies for Khamenei.
According to BlockBeats, on July 5th, CNN reported that mourning ceremonies for the late Supreme Leader Ayatollah Ali Khamenei continued in Tehran and other parts of Iran, with millions expected to attend, and the mourning period lasting until July 9th. Meanwhile, doubts remain regarding his successor. His son, Mojtaba Khamenei, has reportedly not yet made a public appearance, raising concerns about the power transition and actual governance. The Iranian Islamic Revolutionary Guard Corps also warned of potential security threats against the country in the coming days. Regarding the regional situation, shipping disruptions have occurred in the Strait of Hormuz, with several vessels turning back during attempts to pass, indicating continued uncertainty. Separately, reports indicate that US President Trump and Israeli Prime Minister Benjamin Netanyahu have spoken and agreed to meet in the US soon, drawing attention to further coordination between the US and Israel amid the conflict with Iran.
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)
Trump: No fighting between the US and Iran until Khamenei's funeral concludes.
According to Mars Finance, on July 5th, US President Trump stated that Iran is "begging for a deal," but indicated that both sides have decided to suspend negotiations for a week until after the funeral of Iranian Supreme Leader Khamenei. He added that neither side will attack each other during the suspension. "They're all here. One blow could take them all out, but we're not going to do that because then we'd have no one left to negotiate," Trump said. Earlier on Saturday, Trump tweeted that Israeli Prime Minister Netanyahu had requested a meeting with him at the White House, possibly as early as next week after Trump concludes the NATO summit. "We get along very well. (Netanyahu) knows who's in charge," Trump said.
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.