Global markets found some relief as the immediate threat of a U.S. strike on Iranian energy infrastructure eased, knocking oil sharply lower, lifting risk appetite, and helping Bitcoin push back above $70,000, even though the broader geopolitical picture remains tense.
Crypto
In crypto, total market capitalization stands at $2.41 trillion, up 2.04% over the past 24 hours, as the market steadies after a nervous week, with the Fear & Greed Index at 30 showing that caution is still in place but no longer at panic levels, while the Altcoin Season Index, at 49 out of 100, suggests the market has become more balanced rather than being driven by Bitcoin alone.
Bitcoin is trading at $70,371, up 3.70% on the day, while Ethereum is at $2,127, up 3.57%, Solana at $89.72, up 4.08%, and BNB at $641.84, up 2.46%, pointing to a broad rebound across major tokens.
Even so, ETF flows remain negative over the last three sessions, with $163.5 million in outflows on March 18, $90.2 million in outflows on March 19, and $52 million in outflows on March 20, for a total three-day outflow of $305.7 million, showing that larger investors are still reducing exposure overall rather than fully leaning into the recovery.
Commodities
Commodities have seen the biggest swing, with WTI crude trading near $91.65, down 6.57% over the past 24 hours, and Brent around $104.01, down 7.32%, after Washington stepped back, at least for now, from the risk of direct strikes on Iranian power assets, pulling some of the war premium out of oil. Gold has also eased, falling 2.22% to around $4,391 as some safe-haven demand fades, though the metal is still supported by sticky inflation, high interest rates, and lingering geopolitical uncertainty.
Stock Market Indices
Equities remain mixed, with the S&P 500 at 6,506, down 1.51%, the Dow Jones at 45,577, down 0.96%, and the Nasdaq at 21,647, lower by 2.01%, pointing to continued pressure on growth and technology stocks after the recent volatility. In Asia, the Nikkei 225 jumped 3.21% to 52,680 as it recovered some recent losses, while Europe’s FTSE 100 rose 0.98% to 9,937.
Geopolitics & Market Movers
On the diplomatic front, the main market driver is still the U.S.-Iran war, with prices having surged on fears of broader damage to energy infrastructure and fresh disruption around the Strait of Hormuz before the decision to delay action gave investors room to step back from the worst-case scenario, even though the risk has not disappeared and markets remain highly sensitive to every new headline.
On the economic front, investors are adjusting to a tougher rates outlook as higher energy prices add to inflation concerns and push expectations for rate cuts further out. Meanwhile, in Europe, the focus is already shifting toward the possibility of more tightening, and rising bond yields are capping the market’s rebound despite the easing in geopolitical tension.
