Iran launched ballistic missiles at northern Israel on June 7, marking the first direct military strike since the two countries agreed to a ceasefire in April. The attack shattered weeks of relative calm and immediately rippled through global markets, sending Bitcoin tumbling below $63,000 and oil prices surging more than 4% intraday.
President Trump moved quickly to contain the damage, urging both Tehran and Jerusalem to stand down and return to the negotiating table. A brief exchange of fire followed before hostilities paused.
What happened and why it matters
The missile strikes were reportedly a response to Israeli military actions targeting Iranian interests in Beirut. The Israel Defense Forces confirmed that incoming missiles were successfully intercepted, with no casualties reported on the Israeli side.
The April ceasefire came after the Twelve-Day War in June 2025, a conflict that had kept Middle Eastern tensions elevated for nearly a year. The diplomatic breakthrough was supposed to mark a turning point. It lasted roughly two months.
