{"id":1276,"date":"2026-03-07T12:49:52","date_gmt":"2026-03-07T12:49:52","guid":{"rendered":"https:\/\/blog.coinsignals.net\/?p=1276"},"modified":"2026-03-07T12:49:52","modified_gmt":"2026-03-07T12:49:52","slug":"bitcoin-returns-to-70k-despite-rising-middle-east-tensions-weekly-crypto-recap","status":"publish","type":"post","link":"https:\/\/blog.coinsignals.net\/index.php\/2026\/03\/07\/bitcoin-returns-to-70k-despite-rising-middle-east-tensions-weekly-crypto-recap\/","title":{"rendered":"Bitcoin Returns to $70K Despite Rising Middle East Tensions: Weekly Crypto Recap"},"content":{"rendered":"\n
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This week brought major developments in the crypto industry. A significant investment was made in OKX, Kraken secured a Federal Reserve master account, and Justin Sun reached a multimillion dollar settlement with the SEC.<\/p>\n\n\n\n

Around this time last Friday, tensions in the Middle East were already increasing, but few people expected how dramatically events would unfold only hours later. On Saturday morning, Israel and the United States carried out a joint military operation against Iran that began with a series of air strikes.<\/p>\n\n\n\n

Iran responded with counterattacks and continued its retaliation throughout the week, even though its Supreme Leader was killed on the first day of the conflict. Since then the situation has intensified rapidly. Nearly a dozen countries have become directly involved, while the effects have been felt worldwide. The closure of the Strait of Hormuz triggered a sharp rise in energy prices and added to global uncertainty.<\/p>\n\n\n\n

Despite this major geopolitical turmoil, which began during the weekend when most financial markets were closed except for crypto, bitcoin managed to remain relatively stable overall. The market initially reacted with a sharp decline on Saturday when bitcoin dropped by about four thousand dollars to around sixty three thousand dollars. However, the asset quickly recovered, erased the losses, and moved toward new local highs during the week.<\/p>\n\n\n\n

Even though there is no clear sign that the conflict will end soon, bitcoin climbed by roughly eleven thousand dollars from its Saturday low and reached about seventy four thousand dollars on Wednesday. It was quickly rejected at that level and is now trading near seventy thousand dollars. Even so, the price is still about 5.5 percent higher than it was last week, which is notable considering the rising uncertainty.<\/p>\n\n\n\n

Only a few large alternative cryptocurrencies performed better during this period, including HYPE, NEAR, SKY, and MNT. On the other hand, ADA, CC, BCH, SHIB, WLFI, and DOT recorded notable losses.<\/p>\n\n\n\n

Market Data<\/strong><\/p>\n\n\n\n

Market capitalization stands at 2.46 trillion dollars, with a 24 hour trading volume of 108 billion dollars and bitcoin dominance at 56.9 percent.<\/p>\n\n\n\n

BTC: 70,000 dollars, up 5.6 percent<\/p>\n\n\n\n

ETH: 2,050 dollars, up 4.4 percent<\/p>\n\n\n\n

XRP: 1.38 dollars, up 1.4 percent<\/p>\n\n\n\n

Major Crypto Headlines This Week<\/strong><\/p>\n\n\n\n

Kraken has become the first cryptocurrency company to obtain a Federal Reserve master account. The United States based exchange secured access to a limited purpose account from the Federal Reserve Bank of Kansas City. This allows Kraken Financial to connect directly to the Fed\u2019s core payment systems and reduce reliance on intermediaries when users deposit or withdraw funds.<\/p>\n\n\n\n

Kazakhstan may sell gold to support a 350 million dollar crypto investment. The governor of the country\u2019s central bank revealed that authorities are considering allocating up to 350 million dollars to cryptocurrencies or high technology companies connected to the digital asset sector. The funding could come from existing investments such as gold holdings and foreign exchange reserves.<\/p>\n\n\n\n

The parent company of the New York Stock Exchange has invested in OKX at a valuation of 25 billion dollars. Intercontinental Exchange acquired a minority stake in the cryptocurrency trading platform, pushing the company\u2019s valuation to an impressive level following the latest investment round.<\/p>\n\n\n\n

Billionaire investor Ray Dalio rejected the idea that bitcoin should be viewed as a safe haven asset. Although bitcoin has performed relatively well during the recent geopolitical tensions, Dalio reiterated his support for gold and dismissed comparisons between the two assets.<\/p>\n\n\n\n

Crypto investment funds saw about 1 billion dollars in inflows, ending a five week streak of outflows that had totaled around 4 billion dollars. The reversal took place over the course of the previous business week as investor sentiment improved.<\/p>\n\n\n\n

Justin Sun also announced a settlement with the United States Securities and Exchange Commission. Nearly three years after the regulator filed a lawsuit against him and several of his companies, Sun confirmed that the claims were dropped after a settlement worth 10 million dollars was reached, describing the outcome as very satisfactory.#cryptonews https:\/\/t.me\/coinsignalpublic<\/a> https:\/\/coinsignals.net<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

This week brought major developments in the crypto industry. A significant investment was made in OKX, Kraken secured a Federal Reserve master account, and Justin Sun...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1276","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts\/1276","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/comments?post=1276"}],"version-history":[{"count":1,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts\/1276\/revisions"}],"predecessor-version":[{"id":1278,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts\/1276\/revisions\/1278"}],"wp:attachment":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/media?parent=1276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/categories?post=1276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/tags?post=1276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}