US President Trump confirmed on Saturday (28th) that the US military has launched a "massive and ongoing military operation" against Iran, saying the move is aimed at "stopping this extremely evil radical dictatorship from threatening the national security interests of the United States and its core countries."
Meanwhile, Israeli Defense Minister Israel Katz announced a preventative attack on Iran, a joint operation codenamed "Operation Shield of Judah."
According to reports from Al Jazeera and other international media outlets, the airstrikes targeted five cities in Iran: Tehran, Isfahan, Qom, Karaj, and Kermanshah.
One of the targets was located near the office of Iran's Supreme Leader Ayatollah Khamenei, encompassing the area where the presidential palace and the National Security Council are located. Iran's state news agency ISNA reported that the initial airstrikes caused casualties among the Revolutionary Guard. Israel declared a nationwide state of emergency immediately after launching the attack.
Iran's missile retaliation has been fully escalated.
Approximately two hours after the attack, Iran's Revolutionary Guard announced the launch of its first large-scale retaliatory missile and drone strikes against Israel. Multiple explosions were subsequently reported in northern Israel, triggering a full-scale air defense response. The conflict also spread to Gulf states; Bahrain reported that the headquarters of the U.S. Navy's Fifth Fleet located there was attacked by missiles, and Qatar also sounded air raid sirens.
According to CNBC , citing sources familiar with the matter, the operation is expected to last several days, with the Israeli military primarily focused on striking Iranian missile program facilities. Trump also addressed the Iranian people, calling for the overthrow of the current regime and warning of potential casualties.
Amid escalating geopolitical risks, traditional safe-haven assets have surged. International gold prices broke through the $5,500 per ounce mark, with a year-to-date increase of over 20%. In the oil market, Brent crude broke through $71 per barrel, with significant market concerns about a potential blockade of the Strait of Hormuz (the route through which approximately 20% of global oil shipments pass), further impacting global energy supplies.
BTC sold off 1.8 billion magnesium in one hour
In stark contrast to the safe-haven rush for gold, the crypto market experienced a sharp sell-off. Bitcoin's price once fell to around $63,000, a nearly 5% drop in a single day. Ethereum (ETH) fell 6.2%, Solana (SOL) plummeted 6.7%, and XRP slipped 4%. The total market capitalization of the crypto market evaporated by approximately $75 billion in one hour.
Data monitored by on-chain analyst Darkfost shows that Bitcoin selling volume surged by approximately $1.8 billion in one hour during the conflict, reflecting a large influx of sell orders in the market. CoinGlass data shows that approximately $209 million in long positions were forcibly liquidated in one hour, and more than 152,000 traders were liquidated in the past 24 hours, with a total liquidation amount of $515 million.
Please note that sellers currently hold a significant advantage, and market aversion to short-term risks has intensified considerably. Bitcoin, as one of the few highly liquid assets that can be traded 24/7 on weekends, often becomes an outlet for risk-averse sentiment when traditional markets are closed. Please be aware of the risks associated with leveraged trading.
