Global markets steadied on Thursday as Asian equities rebounded and risk appetite returned, even as the escalating Middle East war pushed oil and gold higher while investors balanced geopolitical shocks against resilient Bitcoin (BTC) momentum.
Crypto
The total cryptocurrency market capitalization stands near $2.4 trillion, rising about 2.21% over the past 24 hours. Market sentiment remains cautious, with the Fear & Greed Index at 29, still in fear territory, while the Altcoin Season Index sits at 34/100, confirming that Bitcoin continues to dominate flows, and the average crypto RSI hovers in the low-40s, suggesting momentum remains neutral after recent volatility.
Bitcoin trades around $72,485, slipping roughly 0.28% on the day after briefly testing higher levels earlier in the session. Ethereum is slightly weaker at $2,123 (-0.20%), while BNB trades near $653 (-0.68%), and Solana is edging higher around $90.94 (+0.10%) as traders continue to rotate selectively into large caps.
Spot Bitcoin ETF flows over the past three sessions show a mixed but stabilizing picture. After a day of heavy redemptions earlier in the week, the complex recorded net inflows of roughly $317 million on March 4, following about $168 million in inflows the previous session.
Commodities
Oil prices remain firmly higher as the war involving Iran, Israel, and the United States threatens a critical energy corridor.
U.S. crude trades around $76.56 per barrel, up about 0.60%, while Brent sits near $83.50 (+0.64%), holding close to recent highs after climbing roughly 16% since the conflict began, as markets remain focused on the Strait of Hormuz, where tanker traffic disruptions and halted shipments have heightened fears of prolonged supply shortages.
Gold continues to draw safe-haven demand, with spot gold trading around $5,166 per ounce, up roughly 0.50%, close to record levels after gaining about 20% this year.
Stock Market Indices
U.S. equities are pushing higher as investors buy the dip following earlier volatility. The S&P 500 trades near 6,869 (+0.78%), the Dow Jones Industrial Average sits around 48,739 (+0.49%), and the Nasdaq Composite leads with a 1.29% gain to about 22,807, driven by continued strength in technology and semiconductor names.
In Asia, Japan’s Nikkei 225 hovered near 55,130 (-0.02%), pausing after a strong run earlier this year, while Europe’s FTSE 100 slipped to around 10,593 (-0.20%) as energy strength offset lingering geopolitical unease.
Geopolitics & Market Movers
On the diplomatic front, the Middle East conflict widened further after Iran launched a new wave of missile attacks on Israel, while the U.S. Senate backed President Trump’s military campaign, signaling that hostilities may persist. Energy infrastructure, shipping routes, and regional airspace remain under pressure, raising fears of extended supply disruptions.
A secondary flashpoint lies in Europe’s energy system, with reports indicating gas supply stress across Eastern Europe and Moldova, highlighting how the widening conflict could quickly ripple into global energy markets and supply chains.
On the economic front, central banks face a renewed dilemma, as rising oil prices threaten to rekindle inflation just as policymakers were beginning to consider rate cuts. Meanwhile, attention now shifts to U.S. jobless claims and Friday’s employment report, which could shape expectations for the Federal Reserve’s next move.
