IRGC strikes US air base in Kuwait as Bitcoin slides toward $100K amid $700M in liquidations

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. The attack, which Iran described as part of the “third phase” of its retaliation against US aggression, has rattled global risk markets and pushed Bitcoin’s price dangerously close to the $100K level. Liquidations across risk assets exceeded $700 million as traders scrambled to adjust positions in response to the volatility. What happened on the ground The IRGC launched a series of strikes on the Ali Al Salem Air Base on July 13, 20, and 24, 2026, using a combination of kamikaze drones and missiles. The targets reportedly included ammunition depots, fuel tanks, Patriot missile defense systems, and personnel hangars. Iran framed the operation as a calculated, phased response to US military actions in the region. The choice of the word “phase” is doing a lot of heavy lifting here, suggesting Tehran views this not as a one-off event but as part of a longer campaign with more chapters to come. Kuwaiti authorities acknowledged intercepting hostile drones but have not confirmed any specific damage assessments. The US militar...