Iran missile report sends bitcoin back to $79,000, with ETH, SOL, DOGE sharply lower

The largest crypto reversed sharply from a $80,594 high after Iran's Fars news agency claimed two missiles hit a U.S. warship, with oil spiking 5% before the U.S. denied the report.

What to know:

• Bitcoin briefly topped $80,000 for the first time since January before sliding to about $79,000 after reports of a suspected Iranian missile strike on a U.S. patrol boat near Jask Island.
• The U.S. denied that any of its ships were hit, prompting oil and equity futures to pare sharp initial moves even as bitcoin held its decline amid renewed geopolitical tensions around the Strait of Hormuz.
• Other major cryptocurrencies remained higher on the day, with ether, Solana, XRP, BNB and dogecoin all up or only slightly lower, as traders weighed the Iran-U.S. standoff and recent regulatory optimism from the Senate’s Clarity Act compromise on stablecoin yields.

Bitcoin dropped to $79,074 in late Asian hours Monday, reversing nearly $1,500 from a $80,594 intraday high that had marked the highest print since January 31.

The pullback came as Iran's Fars news agency claimed two missiles hit a U.S. patrol boat near Jask Island after the vessel allegedly ignored Iranian warnings to leave its territorial waters. Brent crude jumped more than 5% to trade above $113 a barrel before paring the gain.

The U.S. denied the report shortly after and said no American ship had been struck. Oil and equity futures pared their initial moves on the denial, but bitcoin held its decline as traders priced in the fragility of the ceasefire that has held since early April.

Other majors followed bitcoin lower from intraday highs but stayed positive on the day.

Ether traded at $2,341, up 1.2% over 24 hours after touching $2,368 earlier. Solana sat at $84.08, up just 0.2% on the day after starting Monday at $85.14. XRP slipped to $1.40 and BNB to $623. Dogecoin held its gains better than most, up 2.3% on the day to $0.1102 with the weekly print still at 12.1%.

The escalation arrived hours after President Donald Trump announced on Truth Social that the U.S. would begin escorting ships stranded in the Persian Gulf through the Strait of Hormuz starting Monday, an operation dubbed Project Freedom that involves guided-missile destroyers, aircraft, and drones.

Iran responded by announcing it had "redefined the control zone" in Hormuz, extending its claimed maritime borders to Fujairah and signaling that Tehran would regulate shipping traffic in the area regardless of U.S. operations.

Bitcoin had broken $80,000 for the first time since January, with $301 million in shorts liquidated as the move unfolded earlier Monday. The Senate's Clarity Act compromise on stablecoin yield, released Friday, had been adding to the risk-on tone heading into the week.

Whether the U.S. denial holds or fresh confirmations emerge from either side will likely set the tape for the rest of the U.S. session.

More For You

Families holding decades-old judgments against North Korea are trying to seize 30,765 ETH frozen after last month’s rsETH exploit, citing alleged links between the attack and DPRK-linked hacking groups such as Lazarus, and invoking a New York restraining notice that could block Arbitrum from releasing the funds.

What to know:

• A lawyer representing victims of North Korean terrorism has served Arbitrum DAO with a New York restraining notice, seeking to block the release of 30,765 ETH frozen after the rsETH exploit by claiming it is DPRK-linked property.
• The filing names Arbitrum DAO as a garnishee in three federal enforcement actions...

Laywer pops up on Arbitrum DAO forums seeking funds for victims of decades-old North Korean terrorist acts

7 minutes ago

Bitcoin stalls near $80,000. Stocks and ETF inflows still point to a breakout.

27 minutes ago

Coinbase boosts Solana trading with DFlow integration

1 hour ago

Crypto bears got it wrong again, losing $300 million in liquidations

1 hour ago

Jobs data, earnings calls: Crypto Week Ahead

4 hours ago

Recovery in bitcoin ETF inflows is real. It is just not complete yet.

4 hours ago

U.S. voters don't trust Trump administration to oversee crypto sector, CoinDesk poll finds

22 hours ago

Veteran trader Peter Brandt sees bitcoin hitting $250,000, but only after a bottom later this year

7 hours ago

Strategy pauses bitcoin buys before Tuesday earnings

6 hours ago

Crypto industry backs CLARITY Act yield compromise, pushes Senate Banking for markup

May 2, 2026

Clarity Act text lets crypto firms offer stablecoin rewards while shielding bank yield

May 1, 2026

New Bitcoin quantum proposal offers Satoshi Nakamoto a way to prove control without moving BTC

May 2, 2026