Optimism that briefly sent Bitcoin above $80,600 overnight evaporated as news broke of Iranian missiles targeting a US Navy vessel near the Strait of Hormuz.
Iran’s state-linked Fars news agency said the US Navy vessel ignored warnings from the Revolutionary Guard (IRGC) and was struck by two missiles and forced to turn back.
The allegation comes as President Trump announced “Project Freedom,” a mission set to begin Monday to guide stranded ships through the Strait of Hormuz. US Central Command said it would support the effort with 15,000 military personnel, more than 100 aircraft, along with warships and drones.
Iran’s military warned that US entry into the Strait could trigger attacks after the mission was announced.
Axios reported that a senior US official denied the claim that any US vessel was hit.
Since the US-Iran conflict escalated on February 28 with the launch of Operation Epic Fury, Bitcoin has experienced intense volatility. While the digital asset hit a historic record of $126,186 in late 2025, its post-conflict range has been defined by a low near $60,000 in February and a recent recovery toward psychological resistance at $80,000.
At press time, the leading crypto asset was trading near $79,000 as investors weigh geopolitical risks against strong institutional ETF inflows.
Last week, US spot Bitcoin ETFs recorded about $163 million in net inflows, per Farside Investors. Friday alone brought in approximately $630 million, making up for sizable outflows earlier in the week.