Global markets are firmer on Wednesday, with U.S. and Asian equities higher, bitcoin back above $65,000, and gold holding near recent peaks as investors digest rising U.S.–Iran tensions, Trump’s new global tariffs, and mixed signals on inflation and interest rates.
Crypto
Total crypto market value stands around $2.26 trillion, up about 3.3% over 24 hours, while the Altcoin Index at 37/100 still points to a bitcoin-heavy market, and the Fear & Greed reading of 11 underscores the persistent fear hanging over the sector.
Bitcoin trades near $65,516, a rise of roughly 2.2% on the day, while Ethereum is around $1,912 (+3.3%), Solana is about $82.4 (+4.3%), and BNB is near $601.8 (+3.1%), as Bitcoin dominance hangs under 59%, suggesting the move is broad but still led by majors.
Spot bitcoin ETF flows have turned back to net inflows after a sharp outflow on 23 February. On 20 February, the group took in about $88 million, driven mainly by IBIT and FBTC. Outflows of roughly $204 million followed on 23 February, with heavy redemptions from IBIT and other large funds. Yesterday’s session flipped the picture: total net inflows reached about $258 million, with IBIT adding around $79 million and strong creations in FBTC and ARKB. Over the last three days the complex is modestly positive overall, hinting that larger investors are buying dips rather than exiting.
Commodities
Oil prices are holding near seven-month highs, with WTI trading around $66 per barrel and Brent near $71.4, as traders price the risk of disruption if the standoff between Washington and Tehran worsens.
Gold is trading close to $5,187 an ounce, up nearly 0.9%, with silver up more than 4%, as the metal continues to benefit from safe-haven demand linked to the Middle East, uncertainty over the impact of Trump’s new tariffs on inflation, and lingering doubts about how quickly global central banks will ease policy.
Stock Market Indices
U.S. stocks are higher across the board, with the S&P 500 sitting near 6,890 (+0.8%), the Dow Jones Industrial Average around 49,175 (+0.8%), and the Nasdaq Composite near 22,864 (+1.0%), helped by renewed appetite for AI-linked names ahead of Nvidia’s earnings.
In Asia, Japan’s Nikkei 225 trades around 59,260 (+0.8%), extending strong year-to-date gains as investors welcome the improved corporate governance and the idea of domestic money rotating out of foreign holdings. In Europe, the FTSE 100 is up roughly 0.7% near 10,779, supported by energy and exporters.
Geopolitics and Market Movers
On the diplomatic front, Reuters reported that Iran is close to buying advanced Chinese CM-302 anti-ship cruise missiles just as the United States masses carrier groups near the Iranian coast, a potential transfer that heightens the risk of miscalculation even as Washington and Tehran talk about diplomacy.
Trump’s State of the Union touted a “golden age” for the U.S. economy just days after the Supreme Court struck down his emergency tariffs, with firms set to use any refunds to revive margins while Trump hits them for a new temporary 10–15% global tariff, leaving households with little immediate relief on import prices.
On the economic front, the yen sits near 156 per dollar after Tokyo nominated two academics seen as comfortable with higher inflation to the Bank of Japan board, reinforcing expectations of very gradual tightening. The Australian dollar has jumped after stronger-than-expected inflation revived the risk of further rate hikes, while China’s yuan is near a three-year high as markets bet that a rollback of some U.S. tariffs and strong exports will keep it supported.
