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Bitcoin slides below $70K on macro and geopolitical jitters; Kazakhstan bank backs crypto |
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March 7, 2026 |
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Today’s Setup
Market reacting to regulatory shifts and geopolitical tensions
Bitcoin volatility: Bitcoin dips below $70,000 amid US job losses, geopolitical risks, and renewed ETF outflows, with mixed trader sentiment and dwindling exchange liquidity. Central banks embrace crypto: Kazakhstan’s central bank plans $350 million investments in crypto-related assets starting April, signaling growing institutional interest. Regulatory scrutiny heats up: Dubai regulators order KuCoin to halt unlicensed operations; Pakistan passes Virtual Assets Act; US SEC pursues market structure review.
Watch: Upcoming SEC roundtable on listed options market structure on April 16 could impact Bitcoin ETF leverage and volatility.
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Top Stories
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Bitcoin falls below $70,000 on profit-taking, macro uncertainty, and Middle East tensions
Bitcoin slid from a recent peak near $74,000 to below $70,000, weighed by profit-taking, cautious derivatives positioning, weak February US jobs data, and geopolitical tensions in the Middle East. Exchange BTC balances are near multi-year lows, pointing to tightening supply amid volatility.
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Kazakhstan central bank to invest $350 million in crypto-related companies and funds
Kazakhstan’s central bank will allocate up to $350 million of gold and foreign exchange reserves into crypto infrastructure and related companies, focusing on digital asset funds and tokenized equities. Investments are expected to start in April or May.
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Dubai regulators order KuCoin to stop unlicensed crypto operations
Dubai’s Virtual Assets Regulatory Authority issued a cease-and-desist order against KuCoin for operating without a license and warned residents against using the exchange. The move comes amid heightened regulatory scrutiny of unregulated crypto platforms in the UAE.
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Florida passes first US state-level stablecoin bill with consumer protections
Florida enacted Senate Bill 314 establishing a regulatory framework for payment stablecoin issuers aligned with federal standards. The law includes consumer protection and anti-money laundering measures and has the backing of Governor Ron DeSantis.
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Binance denies $1.7 billion Iran sanctions violations amid US Senate probe
Binance refuted allegations that it violated Iran sanctions by $1.7 billion in crypto transactions, asserting its strong compliance and disputing the reports as 'demonstrably false' in responses to the US Senate.
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| Also on the Wire |
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The Block
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CoinDesk
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Bitcoin Magazine
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The Block
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Bitcoin News
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• BitGo CEO discusses $2 billion IPO plans, OCC bank charter move, and competition with Morgan Stanley.
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The Block
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• SEC Chair Paul Atkins aligns with President Trump on the need for clear digital asset regulation and supports the Clarity Act.
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Bitcoin News
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