The crypto market lost $80 billion after U.S. strikes on Iran, as broader risk assets also weakened amid escalating U.S.-Iran tensions, hotter May inflation and rising oil prices. Donald Trump said Israel was not involved in the U.S. strikes, while later reports said he signaled additional strikes and Axios reported a new round of U.S. military action. The episode was described as a risk-off shock that hit cryptocurrencies alongside stocks, with concern centered on possible disruption near the Strait of Hormuz, reinforcing warnings about crypto volatility, diversification and cautious risk management.