Risk sentiment turned defensive on Friday as a tech-led selloff hit Asia, pushing investors out of high-growth names and into Treasuries and gold, while oil hovered near recent lows and crypto consolidated around a $2.3 trillion market cap.
Crypto
Total crypto market capitalization stands near $2.29 trillion, down just under 1% on the day, with the Fear & Greed Index pinned at 8, signalling “extreme fear,” and the Altcoin Season Index at 29/100, confirming Bitcoin’s dominance as the average crypto RSI around 50 points to neutral momentum after a choppy week.
Bitcoin trades around $67,000, roughly flat over 24 hours and modestly higher over seven days, while Ethereum trades close to $1,960 with a small daily loss, and Solana hovers near $80, down on the week, leaving major coins clearly holding value better than the broader altcoin scene as risk appetite fades.
Bitcoin spot ETFs have swung from strong inflows to clear outflows, moving from a $166 million net inflow on 10 February to about $276 million leaving on the 11th and $410 million on the 12th, for a net loss of roughly $520 million over three days.
Commodities
Oil remains soft despite rising geopolitical tension, with U.S. West Texas Intermediate trading at $62.66 per barrel and Brent at $67.37, both extending declines after a sharp 3% slide even as the U.S. redirects the aircraft carrier USS Gerald R. Ford toward the Middle East amid friction with Iran, a pattern that shows worries over global growth still outweigh fears of immediate disruption.
Gold is the clear beneficiary of the risk-off tone, with spot prices up 1.2% at about $4,979 an ounce after a drop of more than 3% below the $5,000 level in the previous session, while silver rebounded to $78.59 an ounce.
Stock Market Indices
U.S. equities are under broad pressure, with the S&P 500 at 6,832.77 (-1.57%), the Dow Jones at 49,451.98 (-1.34%), and the Nasdaq Composite at 22,597.15 (-2.03%), while Japan’s Nikkei 225 is at 57,350 (+0.63%) and the FTSE 100 at 10,404.3 (-0.21%).
Geopolitics & Market Sentiment
On the diplomatic front, the Middle East is back in focus as Washington sends a second carrier group toward Iran, a move that raises geopolitical tensions but has not yet pushed crude prices higher.
By contrast, the U.S.–Taiwan trade partnership is easing tensions, by combining lower tariffs with sizeable Taiwanese commitments to buy U.S. energy, aircraft and high-tech equipment, as well as major new U.S. investments from Taiwan Semiconductor Manufacturing Corp
In Europe, Ukrainian President Volodymyr Zelensky said he will not ask the public to approve a “bad deal” with Russia, ahead of the Munich Security Conference where leaders are looking for clarity on future U.S. support.
On the economic front, a strong rally in Treasuries has dragged 10- and 30-year yields sharply lower, reviving expectations of a June rate cut, leaving today’s core U.S. CPI print as the next major test for cyclicals, tech, and crypto alike.
