A major turning point in the Iran-US conflict: U.S. Secretary of State Marco Rubio told reporters at the White House on May 5 that Operation Epic Fury has ended and its objectives were achieved. Hours earlier, Iranian President Masoud Pezeshkian pushed back, calling the U.S. approach of applying maximum pressure while demanding unilateral terms unrealistic.
Pentagon tallies: 85% of Iran's defense industry destroyed
The White House released a detailed assessment: the operation destroyed more than 85% of Iran's defense industrial base, including ballistic missile depots, launchers, and long-range attack drones. At sea, 150 warships across 16 classes were sunk, all submarines confirmed destroyed, and 97% of naval mines cleared. The statement, titled "Peace Through Strength," said the campaign laid ground for a ceasefire—but it did not address the unresolved blockades in the Strait of Hormuz or the fact that U.S. naval forces remain deployed.
Trump claims progress; maritime blockade stays
President Trump posted on Truth Social that the U.S. Navy's "Project Freedom" convoy mission would pause temporarily, but the maritime blockade of Iranian ports will continue without change. He also claimed "big progress" toward a final agreement to end the Iran war, though no verifiable details have emerged.
Three unresolved fault lines
The end of active combat does not mean stability. Three key issues remain unsolved: First, the naval blockade persists, giving Tehran incentive to keep disrupting commercial shipping as a countermeasure. Second, trust is absent. Two contact rounds in Islamabad collapsed in April, and Pezeshkian insists on halting provocative rhetoric and military actions as a precondition for dialogue—a condition currently unmet. Third, troops stay in place. The U.S. fleet shows no sign of withdrawal, and Trump could restart Project Freedom or escalate further at any moment.
Bitcoin surges above $68K, Ethereum hits $2,000
The crypto market reacted swiftly. Bitcoin broke through $68,000, while Ethereum jumped above $2,000. Market participants attributed the rally partly to easing geopolitical risk—and to a prior announcement that Iran would charge $1 per barrel of oil for Strait of Hormuz passage, payable only in Bitcoin, which further amplified the narrative around cryptocurrency as a safe haven. Still, with the ceasefire details vague and three major fault lines unresolved, the short-term outlook remains uncertain.