According to a report by Axios, two Israeli sources claim that Iran is preparing a major retaliatory attack on Israel from Iraqi territory within days and before the US presidential elections.
There has been some pressure on Bitcoin prices during previous Iran-Israel tensions, but it is not known what the situation will be this time around.
The attack is expected to use drones and ballistic missiles and make use of pro-Iranian militias in Iraq to avoid direct conflict on Iranian soil.
The reported plans reflect escalating tensions in the region as Israel and Iran engage in an intense exchange of attacks. Iran could seek to limit retaliation against its own strategic assets by using Iraqi territory, making it harder for Israel to target Iranian territory in response.
According to Israeli sources, the attack would involve a significant number of drones and ballistic missiles launched from Iraq. US officials acknowledged the intelligence but it remained unclear whether Iran had made a final decision on when to strike.
Iranian Revolutionary Guard Corps Commander Hossein Salami warned that Israel was “making a mistake” with its latest attack on Iran, hinting at an imminent response. “Our response will be different from the scenarios Israel might expect,” Salami said on Thursday.
A senior Iranian source also told CNN that Tehran was planning a “firm and painful” response, suggesting it could come before the US elections.
*This is not investment advice.