Geopolitics

Alvaro Rosenblüth, treasury and exchange manager at Banco de Crédito de Bolivia, stated that the Central Bank of Bolivia lifted the ban on cryptocurrency operations out of necessity. Stablecoins are now acting as a dollar proxy, enabling remittances and payments to combat the dollar shortage. Boli

Israeli Prime Minister Netanyahu addressed rumors of his death at a press conference, confirming he is still alive and denying false information circulating online about his health. He claimed the rumors were "spread by him personally." Meanwhile, as the conflict between Israel and Iran escalates, Netanyahu stated that he has suspended relevant military operations and claimed that Iran no longer possesses nuclear capabilities. This public appearance is viewed as a significant geopolitical signal.

Bitcoin recently touched $75,000 but failed to sustain the level, pulling back to $74,000, reflecting cautious sentiment among investors ahead of the upcoming Federal Reserve interest rate decision. Geopolitical risks and elevated energy prices have driven inflation higher, affecting market expectations for rate cuts and pushing the timeline for cuts to year-end. Technical analysis shows Bitcoin remains strong but has not confirmed a decisive breakout above the $75,000 level, with limited upside potential in the near term.

The UK has initiated dissolution proceedings against Zedxion Exchange due to the provision of false information in its company registration. An investigation revealed that the company was closely related to Iran's Islamic Revolutionary Guard Corps and operated using fictitious identities. This dissolution represents the latest case of the UK strengthening regulatory oversight under new legislation, reflecting the country's efforts in combating sanctions evasion.

Citigroup lowered its 12-month Bitcoin price target to $112,000, primarily due to the stalled progress of the U.S. CLARITY Act in the Senate, which has dampened regulatory expectations. Meanwhile, Ethereum's price target was also adjusted to $3,175, facing dual pressure from policy delays and weakening on-chain activity. Analysts pointed out that future legislative opportunities are shrinking, and the market needs to recalibrate its risk assessment.

The Strait of Hormuz saw shipping traffic plummet 95% due to US-Israel military operations, triggering severe volatility in global energy markets. Gold fell for seven consecutive days, silver declined over 13%, while Bitcoin showed relative resilience, revealing different asset reactions during crises. International response measures to ensure shipping lane safety remain unclear, with the energy supply crisis signaling prolonged price increases.

Macquarie analysts stated that due to the Middle East conflict and uncertainties in energy prices, the timing of the Bank of Japan's next move remains unclear. The bank kept interest rates unchanged this week and may tighten policy in the future. The next rate hike is expected in July, but it could come earlier if the yen depreciates further.

Middle East conflicts impact the Strait of Hormuz, causing gold to fall for seven consecutive days and silver to plummet sharply. Bitcoin pulls back from highs but remains relatively resilient, with experts advising investors to exercise caution. Europe and Japan issue joint statements defending the shipping lanes, while Qatar's natural gas facilities come under attack, signaling a long-term rise in energy prices that may trigger global inflation concerns.

Gate News reported that on March 20, the U.S. Department of Justice has filed criminal charges against three individuals associated with Super Micro Computer, including the company's co-founder, for allegedly smuggling AI chips worth $2.5 billion to China. According to the indictment, these individuals illegally transported chip technology critical to AI development to Chinese entities by circumventing export control measures. This case highlights the persistent tensions and regulatory challenges in U.S.-China technology trade.

Gate News reported that on March 20, the Trump administration unveiled a 24K gold coin design on Thursday to commemorate the 250th anniversary of the founding of the United States. The design sparked controversy immediately upon release, with criticism calling it "disturbing" and "illegal."

A JPMorgan report indicates that decentralized exchange Hyperliquid's WTI crude oil perpetual futures contracts have seen a significant surge in trading volume, primarily due to its ability to provide 24/7 trading during traditional market closures, attracting traders seeking immediate hedging. Hyperliquid's technical advantages and high leverage options have given it a competitive edge in the crypto derivatives market. While traditional exchanges are developing 24/7 trading capabilities, their product structures still differ from Hyperliquid's offerings.

Major League Baseball (MLB) has reached an exclusive partnership with decentralized prediction market platform Polymarket, with a contract value of up to $300 million, marking a divergence in prediction market regulation. MLB's agreement with Polymarket and the CFTC highlights differing jurisdictional positions between federal and state authorities over prediction markets. If states prevail in litigation, the contract could be terminated to reduce legal liability, which also reflects prediction markets' gradual convergence toward mainstream finance.

Bitcoin has recently been affected by supply shocks and geopolitical pressures, with prices declining from their highs to approximately $69,500. Large volumes of bitcoin entering exchanges have triggered market panic. Major sellers include dormant wallets resuming activity and early investors taking profits. Technically, bitcoin has broken below the $72,000 support level, with $64,000 becoming a critical support level. A breach of this level could expose the asset to further downside risk.

US-Iran tensions are escalating, with markets beginning to price in prolonged conflict, impacting oil, shipping, and supply chain costs. Investors are focusing on hard assets and related resource sectors, while facing stagflation risks. It is recommended to adopt defensive trading strategies and currency diversification.

Galaxy has warned about risks to Bitcoin posed by quantum computing advancements, prompting industry debate and criticism of Bitcoin Core developers.

On March 20, Bitcoin price fell to $70,071, with a 24-hour decline of 1.51%. The entire network saw liquidations of $407 million, US stock indices declined across the board, most crypto-related stocks moved lower, and WTI crude oil price dropped below $94/barrel.

Israeli Prime Minister Netanyahu's speech prompted oil prices to decline and reduced market tension. The crypto market continued to weaken, with Bitcoin briefly falling below 69K. ETF outflows indicate institutional profit-taking, and the Fear and Greed Index has retreated into the fear zone.

Gate News: On March 19, according to AXIOS, Anthropic and the U.S. Department of Homeland Security will meet in a closed-door meeting on March 20. The discussions between the two parties will focus mainly on model distillation and export control issues, with disputes with the Pentagon not being at the core of the discussion.