Impact of the Iran-US Crisis: Global Market is Actually Turbulent

The conflict of the military attack by the United States (AS) and the closure of the Strait of Hormuz by Iran triggered significant turmoil in the global financial markets. Oil prices briefly surged sharply by 5.7% until Brent reached US$81.40 per barrel, but then fell back to US$78.14.
Meanwhile, gold strengthened as a safe asset amid geopolitical uncertainties threatening global energy supplies, reaching US$3,462, up 44.33% year-on-year.
However, the crypto market was directly impacted, with Bitcoin (BTC) briefly dropping 4.02% to US$98,242 on Monday (23/06), before bouncing back to the US$101,000 level in the last 24 hours.
More than $1 billion or equivalent to Rp16 trillion in crypto positions were liquidated, and the correlation between Bitcoin and tech stocks increased, indicating a shift in Bitcoin's role from a safe asset to a risky asset.
On the other hand, global stocks also experienced a decline, with Nasdaq futures, Dow Jones, and S&P 500 dropping by 2.53%, 2.04%, and 1.61%, respectively. Meanwhile, Asian markets such as Nikkei and Kospi weakened by 2.61% and 1.65%.
As information, when Iran blocked oil access in the Strait of Hormuz, it triggered further spikes in oil prices. With the occurrence of this conflict, it caused high market volatility, with capital flowing into assets like gold as a hedge instrument.