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Bitcoin Declines the Most in Three Weeks as Risk Aversion Rises
Bitcoin fell the most in three weeks as escalating Iran tensions triggered a broad risk-off move across global markets.
The largest cryptocurrency dropped as much as 5.4% on Wednesday to around $70,500 in New York. Losses deepened as oil prices surged following Iran’s attack on a key LNG site in Qatar. Earlier this week, Bitcoin climbed to nearly $76,000 - its highest level since the start of February. Smaller, more volatile tokens also declined, with Ether and Solana each falling about 6%.
MicroStrategy Bolsters Bitcoin Holdings with $1.57 Billion Purchase
Strategy disclosed that it acquired 22,337 Bitcoin (BTC) for approximately $1.57 billion last week, according to a Form 8-K filing with the US Securities and Exchange Commission (SEC) on Monday.
The purchase, which took place between March 9 and March 15, represents the company's largest acquisition since January 20, when it bought roughly $2.1 billion worth of Bitcoin. The average price in the latest round was $70,194 per BTC, including fees and expenses, per the filing.
Trump Administration Official Pushes Crypto Into US Banking System
The wall between Wall Street and crypto is coming down under Trump Administration.
Comptroller of the Currency Jonathan Gould has reportedly greenlighted major crypto firms including Ripple and Crypto.com to pursue national banking charters. He is actively encouraging payment technology companies to enter the federal banking system.
On top of that, Gould is moving to rescind Biden-era guidance that forced banks to seek supervisory approval before touching digital assets. The Chokepoint 2.0 era is effectively over.
For traders this is not just regulatory housekeeping. Access to Federal Reserve payment rails and the ability to hold direct deposits is the single biggest bottleneck keeping institutional capital out of crypto.
SEC Chair Paul Atkins Floats ‘Safe Harbor’ Exemptions for Crypto
The SEC just gave crypto its biggest regulatory green light in years.
Chair Paul Atkins floated a safe harbor exemption on March 18 that lets crypto projects operate without immediate securities registration. It is a direct reversal of the regulation by enforcement era that suffocated US-based development for years.
Token projects now have a compliant runway to decentralize without the threat of an SEC lawsuit hanging over them. For altcoin valuations, that changes the math entirely.
Hong Kong’s RedotPay Targets $150M Pre-IPO Raise for US Listing
RedotPay is looking to raise $150 million in a pre-IPO round. The Hong Kong based stablecoin payment processor is targeting a $4 billion valuation.
The plan is to lock in capital before a US public listing that could come as early as this year.
What makes it interesting is the context. The company says it is already profitable and has no immediate pressure to raise. There has also been recent executive turnover. And yet the fundraise is moving forward anyway.
Solana Crypto Stablecoin Liquidity Hits Record Highs as Open Interest Climbs
Solana just set a new stablecoin liquidity record. Supply surged past $15.58 billion in February.
At the same time, Open Interest climbed from $4.9 billion to nearly $6 billion in a matter of weeks. That is $1 billion in fresh leverage entering the system while sideline capital sits at all-time highs.
Transaction volumes are up 300% year-over-year. This is real settlement activity, not just speculative rotation.
But the leverage building underneath is the real story. Massive dry powder plus rising derivative exposure is exactly how volatility squeezes get built.
Bitcoin Spot ETF Flow
The overall net outflow of the US Bitcoin spot ETF on Wednesday was $129.62 million. The total net asset value of Bitcoin spot ETFs is $94.83 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.48%.
Source: SoSoValue
The Bitcoin spot ETF with the highest net outflow on March 18 was Fidelity Wise Origin Bitcoin Fund, with a net outflow of $103.84 million, according to SoSoValue.
Source: SoSoValue
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