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And just like that, it's off. Days after crude fell on a ceasefire, Trump has declared the US-Iran deal "over," a second round of strikes is underway, and the Strait of Hormuz is back in play. I'll keep this brief, because the honest takeaway is about behavior, not prediction. This is the third or fourth full reversal in this conflict, and a live lesson in why trading geopolitical headlines is a losing game. The market that sold the oil premium two days ago now has to buy it back. My approach hasn't changed: treat this as a volatility input, not a directional call, size for whipsaw, and let the durable trends (rates, adoption) do the heavy lifting. Crypto's oddly calm today, which tells you it's learned to distrust the on-again-off-again. Watching the strait, expecting noise. NFA. #USIranCeasefireBreaks #OKXOrbit