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How Markets Handled the Iran-Israel Flare-Up, 22–23 June 2025

A brief summary: within forty-eight hours the Iran-Israel flare-up sent oil and gold soaring, knocked Bitcoin and equities down, and then—once a “time-out” was declared—nearly reversed the whole move. The article tracks the timeline, the major price swings, and takeaways for traders.

On the evening of 22 June reports surfaced of strikes on Iranian nuclear facilities and Israel’s air-defence systems going on full alert. Oil shot into triple digits, gold printed a fresh high, and Bitcoin fell several thousand dollars. It looked as if the “war premium” might linger.

Yet within twenty-four hours Tehran and Tel Aviv—under US and Chinese pressure—called a time-out. Prices reversed almost as violently as they had fallen, proving once again that the distance from panic to relief can be a single headline.

Commodities

  • Oil. Brent spiked above $108 a barrel at peak fear, then slid to $95–96 once the ceasefire talk hit the wires.
  • Gold. The classic haven rushed to $3,460 per ounce and later retreated to around $3,340.

Equities

  • US and European indices opened lower on 23 June but finished with a V-shaped rebound: the Dow clawed back more than 600 points, the Nasdaq added nearly 2 %.
  • Israel’s TA-35 dropped roughly 4 % at the height of tension but trimmed the loss to a fraction by the morning of the 24th.
  • Defence contractors and insurers led; airlines and retail lagged on fuel-cost worries.

Currencies and Bonds

  • The Dollar Index jumped to 106, then eased back to 104.
  • The shekel firmed about one per cent in a relief rally.
  • Ten-year US Treasuries yielded as low as 3.7 % during the rush to safety, then pushed above 3.9 %.

Crypto

Bitcoin slid below $100 000 at the panic low, clawed its way back by late 23 June, and surged past $106 000 on the ceasefire news. Ether and large-cap alts gained 4-7 %; total crypto market cap re-entered the $2.5-trillion zone.

Logistics and the Real Economy

Tankers briefly paused transits through the Strait of Hormuz, insurers hiked premiums, yet no measurable supply delays followed: the scare ended faster than underwriters could redraft policies.

Takeaways for Traders

  1. The risk premium in oil hasn’t vanished: August calls at $110 remain heavily bid.
  2. Defence stocks have already run—profit-taking risk is real.
  3. Crypto proved hypersensitive to macro shocks; leverage and liquidations magnify every headline.

Bottom line. Global markets completed a full swing from panic to euphoria in forty-eight hours. The lesson is timeless: keep liquidity handy and scenario plans ready—news can flip the board faster than any “just-in-case” stop you forgot to place.