Yesterday we shared an emergency update about the situation and the trade we took. After 14 hours at my screen, I closed the trade at 66.8k and tweeted the close. That wasn’t the absolute top of the range, but with this much uncertainty, I didn’t want to keep a position open overnight.
When markets go from geopolitical fear to headline chaos, you can choose to close or tighten your stop. This time I chose the former. Capital preserved always matters more than ego.
Today we bring you a detailed Iran update on the situation across the Middle East, how global infrastructure has been affected, what traders are watching in crypto markets, and where we are looking to trade in the next days.
Iran Update: A Rapid Escalation of Conflict
What began as strikes on Iranian strategic locations by the United States and Israel quickly spiraled into a wider regional confrontation involving multiple countries and major infrastructure sites.
On February 28 and into March 1, 2026, military actions intensified across the Middle East as Iran retaliated for the death of its supreme leader, Ayatollah Ali Khamenei, who was killed in a joint US-Israeli operation targeting high-value sites within Iran. The strategic impact of this event cannot be understated.
Khamenei Is Dead — This Is the Core Event
Before we even talk about missiles hitting Dubai or airspace closures, we need to be clear about what happened.
Ayatollah Ali Khamenei is dead.
After nearly four decades in power, the man who had final authority over Iran’s military, nuclear program, intelligence services, and foreign policy was eliminated in a coordinated strike. Iranian state media confirmed his death. US and Israeli leadership acknowledged the operation.
This is not just another escalation headline.
This is regime-level change.
When the supreme leader of a regional power is killed during active conflict, the uncertainty that follows is massive. Who controls the Revolutionary Guard? Which party decides the next military steps? And who succeeds him? That power vacuum is what markets are trying to price right now.
Iranians Celebrated in the Streets
What shocked many observers even more was what happened inside Iran after the confirmation.
Videos began circulating from Tehran, Shiraz, Isfahan and Kurdish regions showing people celebrating in the streets. Fireworks lit up the sky. Cars honked. People shouted “freedom” from rooftops and balconies. In some neighborhoods, spontaneous gatherings formed late into the night.
For many Iranians who had lived under decades of strict rule, this moment felt historic. Some described it as cathartic. Others said they never believed they would see this day.
At the same time, supporters of the regime were largely absent from public scenes.
This reaction matters.
Public celebrations following the death of a long-time ruler signal internal fractures. It raises real questions about succession, stability, and how unified the power structure actually is.
And markets do not like uncertainty during a transition of power in an oil-critical region.
Missile and Drone Strikes Across the Gulf
In retaliation, Iran launched waves of missiles and drones toward multiple countries in the Gulf region. Nations including the United Arab Emirates, Qatar, Bahrain, Kuwait, and Jordan reported interceptions and impacts from Iranian projectiles.
These strikes were not isolated. They targeted:
- US military bases.
- Strategic airports and transit hubs.
- Oil and energy transport corridors.
- Allied defenses and infrastructure across multiple states.
Several Gulf militaries demonstrated air defense responses, shooting down missiles aimed at their territories and key assets.
Dubai and UAE Strike Details
A dramatic visual of the widened conflict came from Dubai.
- A missile strike hit Fairmont The Palm on the Palm Jumeirah waterfront, causing a large fire and black smoke rising over the skyline — a shocking scene from one of the world’s most luxurious and cosmopolitan cities.
- Debris from intercepted Iranian drones and missiles caused fires at landmarks including the Burj Al Arab and areas near Dubai International Airport.
- Initial reports confirmed four people wounded at Dubai International Airport; authorities described the event as an “incident” with minor damage.
When we talk about Dubai being hit, this isn’t just geopolitical theatre — it’s hitting a major global financial and crypto center. Hundreds of crypto entrepreneurs, exchange founders, and institutional traders live and operate there. The psychological impact reverberates through markets when real bullets meet real people in cities once thought safe.
I personally reached out to friends and business partners in Dubai immediately after the first missile hit. Fortunately, everyone I contacted was safe — but the fear and uncertainty were palpable.
Disruption of Air Travel and Global Transport
The impact did not stop with military infrastructure.
As Iranian retaliation unfolded:
- Airspace closures were declared over much of the Middle East — including Iran, Iraq, Israel, Kuwait, Qatar, and the UAE — forcing cancellations and diversions of thousands of flights.
- Major carriers like Emirates, Qatar Airways, and Etihad suspended flights as airports including Dubai, Abu Dhabi, and Doha shut operations.
- Over 3,400 flights were canceled in a single day, leaving travelers stranded and rerouting global travel maps.
More than just a regional issue, this has become a global aviation crisis — because Dubai and Doha serve as essential crossroads for international travel between Europe, Asia, Africa, and the Americas.
The aviation industry now faces operational disruptions, increased rerouting costs, higher fuel usage, and rising ticket prices as airlines avoid conflict airspace.
Regional Reactions and Diplomacy
The response from Gulf states has been sharp:
- The UAE government publicly condemned the Iranian strikes and urged Tehran to “go back to your senses” in official statements.
- Qatar and Bahrain reported intercepted missiles and drone attacks, decrying breaches of national sovereignty.
Other nations hosting US military assets, such as Jordan and Kuwait, confirmed interceptions and fallout damage, highlighting the broad geographic footprint of this clash.
This marks a significant shift from previous skirmishes where Gulf states aimed to stay neutral or avoid direct targeting by Iranian military actions.
Iran’s Official Position
Iran has stated its military campaign targets US bases and assets, calling its response “self-defence” after the killing of Khamenei.
Iranian leadership has framed this conflict as a direct response to aggression — and subsequent statements from Iranian officials, including the nation’s president, characterize the strikes as compensation for the loss of the supreme leader.
The conflict now represents a rare moment where military actions span multiple national borders and major metropolitan areas.
Bitcoin, Crypto Markets, and Risk Narrative
It shouldn’t surprise traders that crypto markets reacted instantly:
- Bitcoin plunged to around 63k on peak panic before rebounding.
- Over $100+ billion was wiped from total crypto market capitalization in volatile price swings.
- Liquidations in Bitcoin and Ethereum positions alone reached hundreds of millions of dollars. (Market data sources: Deribit, CoinGlass)
These moves reflect shock, forced resets, and risk aversion among leveraged traders.
Sunday market liquidity is thin. The real price discovery comes when traditional markets — especially US equities and Bitcoin ETFs — reopen.
Hedging activity, options positioning, and ETF flows will define whether this bounce holds or if sellers reassert control.
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My Trade: What I Did and Why
Before all of this started, I urged a long entry at 62.8k — an obvious support and relief bounce scenario.
When war news hit, and Bitcoin dipped into the low 63ks, that invalidated the original higher timeframe wave count we were watching.
What I did:
- Took the long during the panic dip (and shared the trade in our emergency update).
- Closed at 66.8k (tweeted live).
- Stayed disciplined — no overnight risk.
There’s zero shame in booking profits during a geopolitical shock. The goal is to survive and be ready.
Where I Stand Now: Neutral
No position open.
Here’s how I’m looking at the market:
Key Areas to Watch
- 65.6k confluence zone — possible action here if structure forms.
- 68k resistance zone — potential short setup on weakness.
- Higher zones — 73k and 80k for short plays if we show rejection.
Risk Outlook
Downside levels to watch if we break under key structure:
- 58k
- 52k
- 48k
- 32k (absolute psychological bottom)
Plan is level-by-level execution — no blind limit orders.
DCA Strategy in Times of War
If you are a longer-term investor, this is where Dollar Cost Averaging (DCA) becomes powerful. Instead of trying to catch the exact bottom during geopolitical chaos, you scale in gradually at predefined levels. For example, allocate fixed capital at 63k, 58k, 52k, and lower if we get there. This removes emotion from the equation. You are not reacting to headlines. You are executing a plan. In volatile environments like this Iran update, DCA reduces stress, lowers timing risk, and keeps you positioned for recovery without overexposing yourself at a single level.
Final Words
This Iran update isn’t just geopolitics. It’s a reminder that macro shocks matter in markets.
Missiles hitting Dubai, Abu Dhabi, and Doha change trader psychology quickly. Hubs once thought insulated are now in the zone of war risk.
But markets will look past chaos if stability returns. If it doesn’t, volatility will stay elevated.
The smartest move today?
Stay informed. Protect capital. Trade structure, not headlines.
We’re in this for the long game — geopolitical headlines come and go, but sound risk management lasts forever.
If you enjoyed this blog, check out our last trading guide on positioning sizing.
As always, don’t forget to claim your bonus below on Bybit. See you next time!
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