Markets head into the weekend on edge as the U.S.–Iran showdown keeps oil elevated, gold supported, and global equities slightly weaker, while a firmer dollar and fading rate-cut hopes push investors toward defensives.
Crypto
The total crypto market cap is about $2.32 trillion, with a fragile mood, as the Fear & Greed Index sits at 12 (extreme fear), the Altcoin Season Index at 31/100, and the Average Crypto RSI Index is around 46, pointing to a neutral-to-oversold market.
Bitcoin (BTC) trades near $68,163, up around 1.8% over 24 hours and 2.4% on the week, while Ethereum (ETH) is softer at $1,967, BNB is higher at around $613, and Solana (SOL) is at roughly $84, gaining almost 3% on the day and more than 5% over the week.
ETF flows underscore a risk-off tone, with U.S. spot bitcoin products seeing three straight days of net outflows as IBIT, the largest of the new funds, lost about $120 million on 17 Feb, $84 million on 18 Feb, and $164 million on 19 Feb, while smaller products also lost cash, leaving the products with roughly $105–$166 million in daily net redemptions even as BTC’s spot price grinds higher.
Commodities
Oil is holding near six-month highs but has eased slightly from the peak, with WTI trading around $66.14 (-0.8%) and Brent near $71.63 (-0.7%), supported by fears that a clash between the United States and Iran could disrupt shipments through the Strait of Hormuz, which handles about a fifth of global oil flows.
Gold is benefiting from both geopolitical stress and high inflation worries, with spot gold trading near $5,036, up about 0.7% on the day, though still slightly down for the week as a stronger dollar blocks part of the move.
Stock Market Indices
U.S. stocks have slipped, with the S&P 500 sitting near 6,862 (-0.28%), the Dow Jones around 49,395 (-0.54%), and the Nasdaq at 22,683 (-0.31%).
Abroad, Japan’s Nikkei 225 is at 56,920, up 0.14%, helped by a weak yen that supports exporters, while London’s FTSE 100 hovers at 10,709.8, up 0.40%, reflecting the same cautious tone seen on Wall Street.
Geopolitics & Macro Sentiment
On the diplomatic front, U.S. President Donald Trump has given Tehran 10–15 days to reach a “meaningful” nuclear deal, threatening “really bad things” if talks fail. Iran has warned it would hit U.S. bases across the region if attacked and is staging joint naval drills with Russia near the Strait of Hormuz. Several European governments are now urging citizens to leave Iran, underlining fears of miscalculation and a wider war.
On the economic side, traders are focused on upcoming U.S. PCE inflation, GDP revisions, and global PMI surveys, while the dollar index is around 97.64 (+0.13%).
Minutes from the Federal Reserve showed several officials open to further hikes if inflation stays high, and markets have trimmed the odds of a June rate cut.
