Key Takeaways
- The US-Iran war sees oil rally, gold crash, Dubai financial market shares crash, and Bitcoin gain strong upside momentum.
- A recent 4% crash in the Dubai financial market, the largest in a single day, is attributed to multiple missile explosions in the city.
- Bitcoin has demonstrated strength despite market uncertainties, with the price looking set for a rally towards key supply zones at $75k or $95k.
The war between the US and Iran has lasted for over 4 days now, affecting many financial markets, including the Dubai Financial Market (DFM). This war has created huge market uncertainties and disrupted activities for businesses as it has threatened lives and caused unexpected events, especially in the Middle East.
Following the start of the US-Iran war on Saturday, February 28th, 2026, it has affected the financial markets in different ways, as markets saw sharp declines worldwide. Although the Oil market has continued to outperform many traditional assets, as 20% of the world’s supply through the Strait of Hormuz was blocked, oil prices rallied.
Ahead of a new trading week, the likes of Dubai Financial Market announced it would close the market on Monday and Tuesday of the 2nd and 3rd of March, respectively. Despite such a move, the market crashed after its opening.
Why Did the Dubai Financial Market – Stock Exchange Crash?
The Dubai financial market saw its biggest day crash of over 4% following a reopening after precautionary measures were taken on Saturday and Sunday amid the US-Iran war, in a bid to protect user funds and curb excessive market volatility.
While this was a good move, the result wasn’t expected, as this was caused by many factors. These factors include:
- Iran launched hundreds of missiles and drones at the UAE and other Gulf countries in retaliation for US-Israeli strikes on Iran, which reportedly killed Iran’s Supreme Leader Ayatollah Ali Khamenei.
- Direct hits on the UAE included Abu Dhabi’s main airport.
- Traders and investors dumped shares en masse out of fear. Regulators even put in a temporary 5% daily limit-down rule to stop a total meltdown.
- Tourism & aviation chaos: Over 20,000 flights cancelled, big hit to airlines, hotels, and retail.
- Infrastructure damage: Ports and airport disruptions threaten logistics and real estate.
- Oil price spike: Oil jumped ~3% on supply fears (Strait of Hormuz risks), but that didn’t help UAE stocks because of the direct attack risk.
While major Dubai financial market shares suffered significant losses, Bitcoin has demonstrated incredible price action over the last couple of days, amid market uncertainties and fears of a US-Iran war.
Bitcoin Price Today – BTC Rallies to $73k
Source – Bitcoin 1D Price Action from CoinMarketCap
The price of Bitcoin over the last 24 hours has outperformed the Dubai financial market and its stock market, as the market saw a 4% price decline, the highest ever in a single day. However, the price of BTC has demonstrated strong upside price action, trading around $63,000 and rebounding to reclaim above $70k.
Current price action for BTC could see the price continue its rally to $75k and potentially $95k, as these regions are key areas of supply or resistance preventing the price from trading higher.
Overall, BTC has outperformed the Dubai market, as its price could continue to trade to the upside despite uncertainties around the US-Iran war.
FAQs
What will happen to crypto if the US attacks Iran?
There have been speculations suggesting the price of BTC could fall, but they have proven wrong as the price has been rallying. Gold and Oil have seen strong price action over the last few days.
Will oil prices go up if there is a war?
Due to the Strait of Hormuz being blocked, which restricts 20% of the world’s oil supply, and the recent explosion at Saudi Arabian oil facilities, oil prices have risen.
How much BTC does Iran hold?
There are no exact figures yet, but Iran has been conducting many transactions and mining activities with Bitcoin lately, despite the recent US-Iran war.
Will the Iran War affect crypto?
The crypto market has experienced a crash in the last few hours amid the US-Iran war, as US President Donald Trump hints at a combat operation. The crypto market could see a significant crash on Monday when it opens.
How will markets react to the US attack on Iran?
Expectations are that the crypto market and Bitcoin could see a market crash; however, there is a high possibility that Oil and metals such as Gold and Silver will perform well in the coming days.
Does war affect the crypto market?
Historical data show wars such as the Russian-Ukrainian and Israel-Iran have led to market crashes of over 40% and 20%, respectively, and could trigger a similar reaction.
Related Read
US Attack Iran – How Iran and US War Will Affect Bitcoin and Other Crypto
How Oil Supply Could Affect Crypto as Oil Eyes $100 per Barrels
