Trump warns 1,000 missiles aimed at Iran; Bitcoin near $64K

President Donald Trump posted on Truth Social on July 11 declaring that the ceasefire with Iran was over and warning that “1000 Missiles are Locked and Loaded and aimed at the Islamic Republic of Iran,” adding that orders had been given and the U.S. military was ready for a one-year period, subject to extension, to “completely decimate and destroy all areas of Iran.” He said talks with Iran would continue but hostilities would not pause.

The post followed a week of U.S. strikes on Iranian military and port targets and Iranian attacks on commercial shipping in the Strait of Hormuz. Iran’s Islamic Revolutionary Guard Corps declared the strait closed “until further notice” after firing on vessels it said were using unauthorized routes. A Cyprus-flagged container ship, the MV GFS Galaxy, suffered engine-room damage in an Iranian strike and one crew member was reported missing. Daily transits through the strait, normally 120 to 140 vessels, fell to as few as 10 on some days. Oil prices moved about 5% to 6% on headlines tied to the escalation.

Bitcoin traded at $64,134 as of 11:30 a.m. EDT on July 12, up about 0.6% over 24 hours, with a market capitalization near $1.283 trillion. The price remained roughly 49.2% below its October 2025 all-time high above $126,000 and followed a rebound from early-July lows near $57,800.

Market flows that week included more than $450 million in short liquidations in a single 24-hour stretch on July 6, and spot bitcoin exchange-traded funds posted $266 million in net inflows that day, led by one fund with $209 million. Strategy, the company formerly known as MicroStrategy, sold 3,588 BTC for about $216 million that week, its largest single sale on record.

Market structure showed the $62,000 to $63,000 zone holding as support through multiple tests. Technical pivot levels indicated a close above $65,000 would open a path toward $67,000, while a break below $62,000 could lead to a retest of June lows near $58,000. Futures open interest declined even as prices rose.

On-chain and sentiment measures showed caution. K33 Research reported that more than half of bitcoin’s circulating supply remained underwater. The Fear and Greed Index was in “Extreme Fear” for much of the period and moved modestly into Neutral by July 12.

Political and military signals continued to add uncertainty. Israeli Defense Minister Israel Katz warned forces were ‘ready and on alert for a resumption of fighting.’ Iran’s new Supreme Leader, Mojtaba Khamenei, pledged to avenge his father’s death after the funeral of Ayatollah Ali Khamenei in Mashhad on July 9. There is no current ceasefire framework governing the conflict.

Market participants monitored oil prices and Strait of Hormuz shipping data alongside technical levels and fund flows to assess whether recent price moves in crypto would continue or reverse.