Market Digest: Bitcoin Holds Near $117K as U.S.–Russia Diplomacy Clouds Markets

Key Takeaways

Trump’s Alaska summit with Putin raised pressure on Ukraine, while fresh Middle East tensions and U.S.–India trade tension added to geopolitical unease.
U.S. inflation data kept a September Fed cut on the radar, with markets pricing in two reductions this year as Powell prepares to speak.
The dollar softened and Brent crude slid, while gold held steady around $3,335 as investors kept a cautious tone.
Bitcoin consolidated above $117K, with Ethereum and Solana edging higher.

Geopolitics & Market Sentiment

On August 17, markets showed a cautious tone as investors weighed U.S.–Russia diplomacy over Ukraine against rising odds of near-term rate cuts from major central banks.

On the diplomatic front, U.S. President Donald Trump’s Alaska summit with Vladimir Putin added pressure on Kyiv to accept a rapid deal, putting European leaders on alert ahead of talks with Ukraine’s Volodymyr Zelenskiy in Washington.

Trump aides have been circulating proposals for security guarantees for Ukraine, described as “NATO-like,” though officials admit the details remain uncertain.

Meanwhile, Israel intensified operations around Gaza City while EU officials criticized new settlement plans.

At the same time, Trump’s sudden cancellation of trade talks with India, originally set for later this month, added a fresh layer of uncertainty to bilateral ties, heightening concerns over looming U.S. tariffs on Indian goods.

On the economic front, U.S. July CPI rose 0.2% on the month and 2.7% on the year, with core inflation at 3.1%.

Producer prices also moved higher, while retail sales showed a modest uptick, reinforcing expectations for a September Fed cut.

Meanwhile, surveys and market pricing point to two reductions this year, with Chair Jerome Powell due to speak on August 22.

In Europe, inflation hovering near 2% has the ECB leaning toward holding rates into year-end, while Japan’s inflation remains above the BoJ’s target. In China, July data missed expectations as factory output growth slowed to an eight-month low and retail sales cooled sharply, raising pressure on policymakers to step up support

In Crypto, Bitcoin consolidated above $117,000 after briefly testing record territory last week, while Ethereum climbed 0.8% to $4,459 and Solana advanced over 0.8% to $191.Trading conditions were calmer overall, with Bitcoin’s share of the market slipping slightly to 59.5%.

With markets absorbing these developments, the U.S. dollar weakened, allowing risk assets to trade with more ease, while oil prices slid sharply, with Brent futures down nearly 4% on the week.

Global Indices

S&P 500 Index (SPX): 6,449.79 (–0.29%)
Dow Jones Industrial Average (DJI): 44,946.12 (+0.08%)
Nasdaq Composite Index: 21,622.98 (–0.40%)
Nikkei 225 Futures: 43,370.0 (–0.23%)
Euronext 100 Index (N100-D): 1,612.80 (+0.32%)
FTSE 100 (UK 100): 9,146.8 (–0.71%)

Cryptocurrencies

Bitcoin (BTCUSD): 117,645 (+0.16%)
Ethereum (ETHUSDT): 4,459.18 (+0.84%)
Binance Coin (BNBUSDT): 851.51 (+1.53%)
Solana (SOLUSD): 191.26 (+0.80%)
BTC Dominance (BTC.D): 59.49 (–0.24%)

Major Stocks

Nvidia (NVDA): 180.45 (–0.86%)
Tesla (TSLA): 330.56 (–1.50%)
Microsoft (MSFT): 520.17 (–0.44%)
Meta Platforms (META): 785.23 (+0.40%)
Apple (AAPL): 231.59 (–0.51%)
Amazon (AMZN): 231.03 (+0.02%)

Commodities

Silver (XAGUSD): 37.987 (–0.03%)
Gold (XAUUSD): 3,335.28 (+0.01%)
WTI Crude Oil (USOIL): 63.13 (–1.24%)
Brent Crude Oil (BRENT): 68.16 (–3.68%)

Forex

U.S. Dollar Index (DXY): 97.364 (–0.42%)
EUR/USD: 1.17034 (+0.48%)
GBP/USD: 1.3551 (+0.17%)
USD/JPY: 147.119 (–0.43%)