Global markets rebounded on Wednesday after Washington and Tehran agreed to a two-week ceasefire, lifting equities and pushing crude back below $100 a barrel, though the strength of the move was tempered by continued strikes on Lebanon and by doubts over whether the truce can hold long enough to bring a lasting reduction in the geopolitical risk premium.
Crypto
Crypto prices were softer even as broader risk appetite improved, a sign that digital assets were still trading with a degree of caution after the recent stretch of volatility. Total market capitalization stood at $2.43 trillion, up 2.57%, while the Fear & Greed Index was 44, in neutral territory, and the Altcoin Season Index held at 34, indicating that the market remained tilted toward Bitcoin rather than rotating decisively into smaller tokens.
Bitcoin traded at $71,431, down 0.71% on the day, while Ethereum fell 1.19% to $2,213.41. BNB was down 2.48% at $604.75, and Solana lost 2.63% to trade at $83.31, despite the rally in global equities and the easing of immediate fears around energy disruption.
Spot bitcoin ETF flows over the past two sessions showed how quickly institutional positioning has been shifting. On April 6, the group recorded a strong $471.4 million in net inflows, with BlackRock’s IBIT accounting for $181.9 million of that total, while on April 7, the picture reversed as the group posted a $159.1 million net outflow and IBIT itself saw $17.1 million leave.
Commodities
Oil posted the day’s largest move, with U.S. crude trading at $96.49, down 12.54%, while Brent stood at $98.69, lower by 6.75%, after hopes for a ceasefire and a possible reopening path for shipping through Hormuz prompted a sharp repricing across the market. Even after that drop, both benchmarks remained well above levels seen before the conflict escalated, reflecting a market that has reduced immediate panic but not abandoned concern.
Gold held firm rather than retreating with oil. Spot gold stayed near $4,740 after climbing to its highest level in nearly three weeks, and silver stood at $74.21, up 1.75%, as the combination of a weaker dollar, unresolved regional tensions, and renewed debate over the Fed’s rate path helped keep demand for bullion intact.
Stock Market Indices
Wall Street closed sharply higher as investors moved back into sectors that had absorbed the heaviest pressure during the recent spike in oil prices. The S&P 500 rose 2.51% to 6,782.82, the Dow Jones Industrial Average climbed 2.85% to 47,909.92, and the Nasdaq gained 2.80% to 22,635.00.
The relief extended beyond the United States, with Japan’s Nikkei 225 adding 1.22% to 57,120, while London’s FTSE 100 rose 2.36% to 10,663.8, in line with a broader rally in European equities as investors priced out part of the energy and inflation shock that had hung over the region.
Geopolitics & Market Sentiment
The ceasefire eased immediate fears of a deeper regional escalation, but the broader picture remained unsettled, as strikes on Lebanon continued, Iran questioned whether the agreement had already been undermined, and traffic through the Strait of Hormuz was still restricted, all of which left investors treating the truce as a tactical pause rather than a settled diplomatic outcome.
On the economic side, the market’s attention shifted quickly back to inflation and central banks. Fed minutes showed some policymakers were still prepared to consider further rate increases if inflation stayed elevated, even as the ceasefire revived some expectations that lower oil prices could ease pressure on the outlook.
