The recent US-Israel military strike on Iran has had minimal impact on the cryptocurrency markets, with volatility remaining limited. Despite the geopolitical tensions, there has been no significant change in the implied volatility (IV) of major crypto assets. The market skew has slightly shifted towards a bullish sentiment following today's rebound, indicating a short-term increase in bullish momentum. Former President Trump is expected to address the Iran issue shortly, which may draw further attention to the situation.