Global risk sentiment turned mixed over the last three sessions, with US equities stabilising after a volatile March, UK benchmarks extending a second day of gains, and crypto remaining under pressure despite selective altcoin strength.
On Wall Street, the tone improved after a difficult stretch that pushed the Dow into correction territory earlier this week. Heavyweights including SPY, QQQ, NVDA, TSLA and MU led the recovery in dollar-volume activity, signalling renewed institutional participation. The move suggests investors are selectively rotating back into mega-cap tech and AI names after recent weakness, though broader sentiment remains cautious amid elevated volatility and geopolitical risk.
In the UK, the FTSE 100 climbed to 10,176.45, adding 48.49 points (+0.48%), while the FTSE 250, FTSE 350 and FTSE All-Share also closed higher. The day’s laggards inside the FTSE 100 were Unilever, IMI, Croda, Diageo and Coca-Cola Europacific Partners, reflecting stock-specific profit taking after the recent commodity-led rally. Despite the broader index strength, defensives and consumer names underperformed as money continued to chase miners, energy and rate-sensitive financials. The benchmark is now extending gains for a second straight session after Monday’s 1.6% rise.
The crypto market, however, remained relatively soft. Bitcoin hovered near $67,800, down around 0.6%, while Ethereum slipped below $2,100. Total crypto market cap stood near $2.31 trillion, down 0.45%, indicating that risk appetite in digital assets is still lagging equities. Even so, pockets of strength emerged in altcoins, with Stable, Algorand and Raydium among the top gainers, while sharp downside was seen in Siren, Audiera and Trust Wallet Token. The divergence suggests traders are moving tactically into selective ecosystem plays rather than taking broad market exposure.
The bigger cross-asset takeaway: equities are attempting a relief bounce, UK stocks are benefiting from commodity momentum, but crypto traders remain in a wait-and-watch mode near key Bitcoin support around $68K. If BTC reclaims and sustains above that level, broader digital risk sentiment could improve quickly.
