On Thursday, Israel launched overnight airstrikes on Iranian nuclear sites, igniting a new wave of geopolitical tension in the Middle East. The ripple effects were immediate: U.S. stock markets took a nosedive on Friday, while gold and oil prices surged dramatically.
The Israeli strikes on Iran have triggered a global flight to safety, with equities plummeting and oil and gold prices climbing sharply. Bitcoin (BTC) has lost 1.9% over the past 24 hours, pulling the crypto market down by 3.21% by Friday. Investors are on edge, bracing for potential Iranian retaliation and a broader military conflict.
U.S. President Donald Trump, ever the diplomat, commented on the situation with his characteristic flair. “I told them, in the strongest of words, to ‘just do it,’ but no matter how hard they tried, no matter how close they got, they just couldn’t get it done,” the president said.
Trump added:
Two months ago I gave Iran a 60-day ultimatum to ‘make a deal.’ They should have done it! Today is day 61. I told them what to do, but they just couldn’t get there. Now they have, perhaps, a second chance!
Despite reassurances from political leaders, investor confidence remains shaky. U.S. equities opened lower across the board on Friday morning (ET), with all major indices in the red. The Dow Jones Industrial Average led the decline, falling 1.12% to 42,488.01. The Nasdaq Composite dropped 0.72%, starting the session at 19,520.20, while the S&P 500 slipped 0.66% to 6,005.10.
Gold prices soared to $3,440 per ounce on Friday morning, while oil prices spiked past $74, rising 5.9% in early trading. Over the past year, both gold and oil have proven to be reliable havens during times of geopolitical turmoil and conflict.
Nic Puckrin, a crypto analyst, investor, and founder of The Coin Bureau, shared his insights with TopMob. He warned that digital assets might face further pressure in the short term but expressed optimism about bitcoin’s long-term resilience.
“The biggest risk is if Iran were to close the Strait of Hormuz, which handles nearly 20% of the world’s oil supply,” Puckrin told our Newsdesk. “If it does, oil will skyrocket, and risk assets will crash. And, if this happens over the weekend, the 24/7 market—crypto—will take the hit.”
Puckrin concluded:
However, over the long term, what matters most for bitcoin isn’t geopolitics, it’s the US dollar index. And the DXY has just broken below 100, its lowest level in over three years. It’s clear the USD is only going in one direction, and bitcoin typically goes in the opposite.
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2025-06-13 17:57