The Israeli Air Force's bombardment in the Gaza Strip has been relentless. According to a source in the army leadership, more than 210 targets have been struck in the past 24 hours alone. The UN said 58 Palestinians have been killed, and several hundred others - mostly civilians - have been injured, since Operation Protective Edge ("Zuk Eitan") began.

The Qassam Brigades, Hamas' military wing, as well as militants from Islamic Jihad, have also been relentless, firing rockets deeper into Israel.

Tel Aviv and Jerusalem under threat?

Air raid sirens howl in Tel Aviv and Jeusalem almost on a daily basis, reminding the Israeli leadership that Hamas is now capable of reaching the heartland.

The escalation began after three Israeli teenagers were kidnapped near a settlement in the Israeli-occupied West Bank in June. The abduction sparked a large-scale response by the Israeli Army. The youths were found murdered last week, and the Israeli government blames Hamas, which has neither confirmed nor denied the accusation.

Just two days later, a Palestinian teenager from East Jerusalem was murdered by Jewish extremists in an apparent act of revenge. Since then, the situation has deteriorated.

Israel is hoping the air strikes will weaken Hamas, and make it difficult for the group to rearm in the long term. So far, Israel has sought to destroy Hamas' military infrastructure with air and sea attacks, and artillery fire on land. Other tactics include the targeted killing of military leaders and targeted attacks on their homes.

However, it's questionable whether air strikes are enough to cripple Hamas. That's prompted Israel to consider using ground forces as well - it has already moved in 20,000 reservists as a contingency measure.

But despite threats from Prime Minister Benjamin Netanyahu that the campaign would "expand and continue," the government has been reluctant to send ground troops to the Gaza Strip. Some cabinet members, on the other hand, would like to see the enclave reoccupied by Israel.

Difficult balancing act

Putting deterrents in place is a main priority for the Israeli government at the moment. Rockets from Gaza are flying deep into the country, but because they've been intercepted by Israel's anti-missile defense system, the "Iron Dome," they haven't affected daily life too much.

But the attacks have given rise to a fear among Israelis that perhaps they are more vulnerable than they previously thought.

From Israel's perspective, the offensive against Hamas is also a balancing act. If Hamas is weakened too much, it will be difficult for the organization to deal with other militant groups during a ceasefire. Since the end of the recent military offensive in November 2012, Hamas has ensured that the ceasefire - albeit a fragile one - be respected. Hamas patrols at the border have also stopped smaller, often more radical groups from firing rockets.

Alienated in the region

The Gaza Strip and Hamas have also become increasingly isolated since the recent change of power in Egypt. The new Egyptian government under President Abdel-Fattah el-Sissi has mainly given Hamas the cold shoulder as the group is considered an ally of the hated Muslim Brotherhood, a leader of which el-Sissi ousted in a military coup before putting himself up for election.

Egyptian security forces have destroyed the many tunnel systems running between Gaza and Egypt, paralyzing underground trade. Instead of getting cheaper products from Egypt, Gaza residents can now only get expensive goods from Israel.

And it is almost impossible to export goods. For months now, the Egyptian-Palestinian border crossing in Rafah has only been opened a few days at a time. One of Hamas' central conditions in return for upholding a ceasefire is for the Rafah border to be regularly opened.

The reconciliation process between the long-time rival Palestinian groups Fatah and Hamas has done little to improve the situation. In early June, the new interim Palestinian unity government was appointed. Hamas withdrew officially from government responsibility, while retaining de facto control in Gaza.

They had hoped the Palestinian Authority would pay the salaries of about 40,000 officials in the old Hamas-led government. But although Qatar has pledged financial assistance in the millions, the funds are yet to appear.

High price for civilians in Gaza

It remains to be seen whether Hamas can secure their political demands to return to a ceasefire. Some observers have speculated that Hamas could use the new confrontation to try and turn around their sharp fall in popularity. Perhaps they will attempt to unite Palestinians in the face of a common threat. But these speculations may be premature, because it's not yet certain whether the group will emerge from the conflict in a stronger position than before.

Meanwhile, the population in Gaza is facing the reality of being embroiled in a conflict for the third time in six years. "We have all seen this many times," said one Gaza resident. "It repeats itself. People are tired, and they are paying a high price for the situation."

For nearly eight years, Gaza locals have been suffering from the Israeli blockade that makes any economic development virtually impossible. Unemployment has been on the rise since the change of power in Egypt. About 65 percent of Gaza's population is under the age of 24, and unemployment is at 60 percent, according to UN figures.

Following the war in November 2012, Hamas' popularity received a short-term boost. But the deteriorating situation has led to growing opposition among the local population.

Since the offensive began, many high-ranking Hamas leaders have gone into hiding, reportedly seeking safety in underground bunkers. The rest of the 1.7 million Gaza Strip residents, however, don't have this option. Many hold Israel responsible for the conflict and see the attacks as a form of collective punishment.