Iran's retaliation has not escalated, oil prices have fallen sharply, and the Crypto Assets market is warming up.

On June 24, the retaliatory strike by Iran against the U.S. base in Qatar was not as severe as investors feared, alleviating concerns in the market that the conflict would immediately disrupt Middle Eastern supplies, leading to a fall in oil prices. After Iran launched missiles at the U.S. base in Qatar, WTI crude oil experienced a big dump of 4%, as traders were previously worried that Iran’s retaliatory response would involve closing the Strait of Hormuz, through which about one-fifth of the world’s oil passes.

Although there were initial concerns that Iran would interfere with supplies to retaliate against the United States, those concerns have diminished. “In my view, this seems to be well-planned; Iran attacked an empty U.S. base, issued numerous warnings in advance, closed its airspace, and provided guidance for evasion,” said Harry Tchilinguirian, head of research at Onyx Capital Group. “Iran made a face-saving response, moving away from the Strait of Hormuz.”

Both sides have not yet erupted into a larger-scale conflict, which may have influenced the cryptocurrency market and the US stock market to recover in the short term.