Bitcoin continues with its decline today, dipping to $69,000 minutes ago after reports that the Pentagon has begun developing stronger military operations for a “final blow” against Iran.
According to a report from Axios and cited by The Kobeissi Letter, the US wants to include ground forces and a “massive bombing attack.”
The four-stage plan begins with invading or blockading Kharg Island, which is the cornerstone of Iran’s oil export. Although it’s a relatively small island, the offshore terminal handles up to 90% of the country’s crude oil exports.
The second part would focus on invading Larak, an island strategically located close to the Strait of Hormuz, which allows Iran to solidify its control of the region.
Next, the US would want to seize control of Abu Musa and two smaller islands, which “lie near the western entrance to the Strait of Hormuz and are controlled by Iran but also claimed by the UAE.”
The final step would block or seize ships exporting Iranian oil on the eastern side of the Strait of Hormuz. According to the report, these steps could create “more leverage” for Trump during the reported negotiations going on now.
The most recent Trump statements on the negotiations matter came out less than an hour ago, and the POTUS urged Iran’s officials to “get serious soon, before it is too late.” Additionally, he noted that Iranian negotiators are “very different and strange,” but asserted that they are “begging” the US to make a deal.
Bitcoin’s price has fallen by $3,000 in a day after it was rejected at $72,000 yesterday. The highly volatile situation in the Middle East continues to impact the ever-volatile crypto industry. Although BTC is actually up since the war started, it has historically reacted better when peace talks are in focus, not new attacks.
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