Iran's escalating military campaign against US forces in the Gulf is sending shockwaves through crypto markets, with risk assets taking a beating. Iran’s Islamic Revolutionary Guard Corps claimed responsibility for striking Ali Al Salem Air Base in Kuwait, a facility housing US military personnel and equipment. Liquidations across risk assets exceeded $700 million as traders scrambled to adjust positions in response to the volatility. Kuwaiti authorities acknowledged intercepting hostile drones but have not confirmed any specific damage assessments. How crypto markets are reactingBitcoin’s price dipped toward or briefly below $100K as news of the attacks circulated.