Trump orders fresh Iran strikes, bitcoin gains 0.1% to $62,984

President Trump ordered a new round of military strikes on Iran that could begin as early as this weekend, according to the Wall Street Journal, ending a two-day pause that had briefly raised hopes for a negotiated end to the five-month conflict.

"We are in very deep talks with Iran. If they don't work out, we will go back to very strong military action," Trump told Axios in an interview Monday, before the latest order was issued.

The new strikes could last several days, US officials told the Journal. Bitcoin rose 0.1 percent to $62,984 after US markets closed Thursday, while WTI crude had fallen 8.3 percent to $82.92 a barrel Monday when the pause was announced.

The escalation threatens to re-ignite volatility across oil, equities and digital assets. The Strait of Hormuz handles about 21 percent of global oil trade, and Iran has effectively controlled passage since the conflict began in March.

Missile Shortages Drove the Pause

The pause came after Trump was warned that the US military was running low on interceptor missiles. Gen Dan Caine, chairman of the Joint Chiefs of Staff, and Vice President JD Vance raised concerns during a White House meeting Friday night about dwindling supplies of air-defense munitions, the New York Times reported. Three American soldiers were killed in Jordan last Friday when a ballistic missile slipped through US air defenses, and another was killed in Iraq while trying to make safe a downed Iranian drone.

Iran's foreign ministry said Sunday that technical and political consultations were ongoing via Omani intermediaries, but a senior Iranian source told Reuters that Tehran remained skeptical of US intentions. "Iran's position remains 'attack for attack': if the attacks stop, Iran will also halt its operations," the source said.

The last time the US paused strikes on Iran, in April, the two sides agreed to a ceasefire and subsequently signed the Islamabad memorandum of understanding in Switzerland. That agreement collapsed within weeks after the US violated its terms, according to Iranian officials, and the conflict resumed with renewed intensity.

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The new strikes come as the Islamic Revolutionary Guard Corps claimed it destroyed three F-35 fighter jets at Jordan's Al-Azraq Air Base in retaliation for a US strike that killed a family on Qeshm Island. The US has also been forced to bring in NATO allies — including German and French fighter jets — to intercept Iranian projectiles targeting American bases in Jordan.

For markets, the key question is whether the new strikes will push oil prices back toward the highs seen earlier in the conflict. Brent crude had fallen 9 percent to $89.13 a barrel Monday on the pause announcement, while the SPDR S&P 500 ETF slipped 0.1 percent and the Invesco QQQ Trust fell 0.5 percent. Any sustained disruption to Strait of Hormuz shipping — which carries roughly one-fifth of global oil — could quickly reverse those gains. Bitcoin's muted 0.1 percent move suggests crypto traders are treating the escalation as a known risk rather than a new shock, though a prolonged conflict could trigger flight-to-safety flows into the asset.

The economic stakes extend beyond oil. Iran has authorized the first Qatari LNG shipment in three weeks to pass through the Strait of Hormuz along an Iranian-designated route, according to Fars news agency, a sign that Tehran is selectively managing energy flows. Saudi Arabia, meanwhile, is seeking to form a new multinational coalition to counter Yemen's Ansar Allah after the group attacked Saudi oil infrastructure and imposed a maritime blockade on Saudi ports.

The conflict has already lasted more than five months, longer than the 40 days of fighting that Iran initially anticipated. US officials have acknowledged that the campaign has not fundamentally altered Iran's behavior, and the Pentagon has rushed additional forces and weaponry to the Middle East in recent days to prepare for any escalation.

This article is for informational purposes only and does not constitute investment advice.