Early Wednesday morning, the Indian armed forces carried out 24 precision missile strikes on nine terror-related sites across Pakistan and Pakistan-Occupied Kashmir (PoK). This action was taken in response to a deadly terror attack in Pahalgam, Anantnag (Jammu & Kashmir), where 26 people lost their lives.
The escalation between India and Pakistan has sparked global concern. Binance founder Changpeng Zhao (CZ) spoke out on social media, urging peace:
“We hope everyone is safe in Pakistan and India. We condemn war. Let’s compete on economic growth and tech innovations that enhance lives and unite communities. We share one planet and belong to one species: humans..”
Despite the tensions, the crypto market is holding steady. Bitcoin is trading around $96,600, up 2.4% in the last 24 hours, briefly crossing $97,000.
Ethereum has also seen gains, up 1.5% to $1,829. Other major altcoins like XRP, Solana, Dogecoin, and Cardano posted gains of up to 2%. Litecoin jumped over 11%, driven by excitement over a possible Litecoin ETF. Chainlink is up more than 2%.
The RSI is at 65, which shows a neutral momentum, while the Stochastic RSI indicates overbought conditions, which could mean that Bitcoin could see a short-term pullback. However, the MACD remains bullish.
U.S. stock futures rose on Wednesday ahead of high-level trade discussions between American and Chinese officials in Switzerland. Dow Jones futures climbed 196 points, or 0.48%. The S&P 500 and Nasdaq futures also went up by about 0.5%.
Later today, at 2:00 p.m. ET, the U.S. Federal Reserve will announce its decision on interest rates. Most experts expect no change, with a 97% chance of rates staying steady. Inflation and fears of recession are keeping investors on edge.
Even with growing worries about conflict, Indian stock markets continue to rise. Strong company earnings, stable economic data, and foreign investment are helping markets stay positive. Analysts say investors may believe the situation will be contained diplomatically, rather than turning into full-scale war.
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