Global markets are trading with a cautious, risk-off tone on Friday, as “open war” between Pakistan and Afghanistan plus renewed tension around Iran keep oil and safe havens supported while growth stocks wobble and Bitcoin stalls below $68,000.
Crypto
Total crypto market cap is about $2.34 trillion, down 0.2% on the day, with the Fear & Greed Index at 16 signaling extreme fear, the Altcoin Season Index at 35/100 confirming a bitcoin-led market, and average crypto RSI around 55 showing prices are off the lows but still far from overbought.
Bitcoin trades near $67,880, up 0.6%, with Ethereum around $2,034, BNB near $627, and Solana up almost 2% at $87.6, as Bitcoin dominance at 58.6% shows majors are leading the move.
Over the last three sessions, spot bitcoin ETFs have drawn just over $1 billion in net inflows, lifting cumulative net creations to about $55.2 billion and total assets to roughly $95 billion, with IBIT alone absorbing around $650 million over that stretch, including $275.8 million yesterday, offsetting previous outflows.
Commodities
WTI trades around $65.6 a barrel and Brent near $71.7, up about 0.3% and 0.6%, respectively, holding a geopolitical risk premium as traders weigh possible disruption from any Iran-related escalation. Gold is steady near recent highs at $5,181 an ounce, while silver gains to about $89.8, supported by safe-haven demand and uncertainty over the timing of Federal Reserve cuts.
Stock Market Indices
U.S. stocks are mixed: the S&P 500 is off 0.5% around 6,909, the Dow is higher at 49,499, and the Nasdaq is down 1.2% to about 22,878 as AI-heavy tech names correct from stretched valuations. In Asia, Nikkei 225 adds 0.4%, reaching 59,330 on ongoing corporate-reform optimism, while Europe’s FTSE 100 edges up to 10,890, helped by energy and exporters.
Geopolitics & Market Movers
On the diplomatic front, Trump’s assertion that Iran will “soon” have missiles capable of striking the U.S. mainland, despite the lack of supporting U.S. intelligence, has raised the perceived risk of potential U.S. strikes even as nuclear talks drag on, while an “open war” along the Pakistan–Afghanistan border is unsettling regional risk assets.
On the economic front, the U.S. 30-year mortgage rate has dipped just below 6%, but tight housing supply and uncertainty around tariffs mean only modest relief for demand, and investors expect the Fed to stay cautious, watching today’s PPI and Chicago PMI releases for confirmation that disinflation remains on track.
