Global markets navigated a complex mix of geopolitical tension, commodity swings, and technology-driven momentum on Friday, as the United States and Iran prepared for critical talks aimed at stabilizing a fragile ceasefire.
Oil prices remained volatile amid supply disruptions tied to the Strait of Hormuz, while Bitcoin surged past key resistance levels on improving risk sentiment.
Meanwhile, AI infrastructure firm CoreWeave extended its rally after securing a major deal with Anthropic, reinforcing investor optimism around artificial intelligence demand.
US ramps up pressure ahead of Iran negotiations
US President Donald Trump intensified pressure on Iran ahead of direct negotiations in Pakistan, signaling a hardline stance as both sides attempt to convert a temporary truce into a longer-term agreement.
Trump posted that Tehran’s leverage lies in the “short term extortion of the world by using International Waterways,” referring to the strategically critical Strait of Hormuz, which remains largely shut. He added that the “Iranians don’t seem to realize they have no cards.”
Despite the ceasefire broadly holding, tensions persist. Mohammad Bagher Ghalibaf said a ceasefire in Lebanon is one measure that “must be fulfilled before negotiations begin,” alongside the “release of Iran’s blocked assets.”
Trump, however, warned of potential escalation, stating US warships are being reloaded with “the best ammunition” if talks fail. “We’re going to find out in about 24 hours,” he said.
The conflict has already taken a heavy toll, with thousands killed and energy infrastructure damaged across the region.
The continued closure of the Strait of Hormuz — a route that previously handled about one-fifth of global oil and LNG flows — remains a major sticking point in negotiations.
Crude oil volatility persists amid supply disruption
Oil markets remained under pressure despite the ceasefire, with supply concerns continuing to dominate sentiment.
Brent crude traded around $94.43 per barrel, while West Texas Intermediate hovered near $95.89, both falling over 1.5% in the day after rising earlier in the session.
Both contracts are on track for their largest weekly drop since last June. Prices have fallen roughly 12% this week following the ceasefire agreement brokered by Pakistan.
The US has accused Iran of continuing to obstruct the Strait of Hormuz, where shipping activity remains below 10% of typical volumes.
Bitcoin breaks higher as risk sentiment improves
Bitcoin rallied above $73,000, supported by easing inflation concerns and improving macro sentiment.
The move came after US Consumer Price Index data showed inflation at 3.3%, below some elevated expectations tied to geopolitical risks. Core CPI also remained stable, helping reassure investors.
Risk appetite improved significantly, with the Crypto Fear and Greed Index rising to 50, signaling a return to neutral sentiment. Total crypto market capitalization climbed more than 2% to exceed $2.6 trillion.
The rally was further supported by technical factors, including over $290 million in short liquidations, as bearish bets were unwound.
Analysts noted that Bitcoin is now testing a key resistance zone between $73,000 and $74,000, with a potential breakout opening the path toward $80,000. However, failure to hold these levels could trigger a pullback toward the $68,000–$70,000 range.
CoreWeave gains on Anthropic deal
Shares of CoreWeave moved 11% higher after the company announced a multi-year agreement with Anthropic, adding to a strong week marked by high-profile partnerships.
Under the deal, CoreWeave will provide cloud infrastructure to support Anthropic’s Claude AI models, with capacity expected to scale over time.
“AI is no longer just about infrastructure, it’s about the platforms that turn models into real-world impact,” CoreWeave Chief Executive Officer Michael Intrator said in a statement. “We’re excited to work with Anthropic at the center of where models are put to work and performance in production shows up.”
The agreement follows an expanded $21 billion commitment from Meta Platforms earlier in the week, as CoreWeave strengthens its position in the rapidly growing AI infrastructure market.
With Anthropic onboard, the company now counts the four largest AI model developers — Anthropic, OpenAI, Google, and Meta — as customers, underscoring its growing role in supporting next-generation AI workloads.
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