Bitcoin holds near $70,000 as oil surge and credit concerns shake global markets
Bitcoin is holding above the $70,000 level despite growing volatility in global financial markets, as rising oil prices and mounting credit concerns push stocks lower.
At the time of writing, Bitcoin is trading around $70,400, maintaining a relatively stable position even as traditional risk assets come under pressure.
The primary driver behind the market turmoil is a sharp rise in oil prices. Crude oil climbed more than 10% on Thursday, approaching $100 per barrel amid escalating tensions in the Middle East and concerns about disruptions to the Strait of Hormuz.
The strait is one of the world’s most important shipping corridors for crude oil, and any disruption could significantly impact global energy supply.
Donald Trump commented on the situation Thursday, saying that geopolitical stability is a greater priority than energy costs.
“Stopping Iran is of more concern to me than oil prices,” Trump said.
Meanwhile, Mojtaba Khamenei, speaking publicly for the first time since being appointed Iran’s supreme leader, said the Strait of Hormuz should remain closed.
The remarks have added to fears that tensions could escalate further, potentially triggering disruptions to global trade and energy markets.
The geopolitical uncertainty has sent shockwaves through equity markets.
The Nasdaq Composite was down roughly 1.6% by midday trading, while the S&P 500 dropped about 1.2%.
Financial stocks were particularly weak after new concerns emerged around private credit markets.
Morgan Stanley announced limits on redemptions from its $8 billion North Haven Private Income Fund, becoming the latest major financial institution to impose restrictions.
Shares of Morgan Stanley fell around 4%, while other banking giants including JPMorgan Chase, Citigroup and Wells Fargo declined roughly 3%.
Private equity firms such as KKR, Apollo Global Management and Ares Management also dropped between 3% and 4%.
Meanwhile, Gold slipped 0.6% and the yield on the U.S. 10‑year Treasury rose three basis points to 4.23%.
According to James Butterfill, energy markets have become the dominant force shaping global asset prices.
“The dominant variable in global asset pricing is no longer the labour market. It is oil, and the geopolitical crisis underpinning it,” Butterfill wrote in a research note.
Normally, a weaker-than-expected U.S. payroll report would have strengthened expectations for faster interest rate cuts by the Federal Reserve. However, the market reaction was muted as investors focused instead on rising energy costs linked to the conflict in the Middle East.
Despite the broader market turbulence, Bitcoin has remained relatively resilient.
Some analysts believe this resilience reflects a growing shift in how institutional investors view the cryptocurrency.
According to Dom Harz, institutions are increasingly interested not only in Bitcoin’s price but also in its expanding financial infrastructure.
“Institutions want more than exposure to Bitcoin and are increasingly looking for the infrastructure designed to unlock Bitcoin’s financial utility,” Harz said.
He pointed to growing interest in financial applications built on top of Bitcoin that could allow users to spend, save and earn directly within the network.
As geopolitical tensions continue to shape global markets, Bitcoin’s ability to hold above $70,000 may strengthen the argument that the cryptocurrency is gradually evolving into a macro asset closely watched alongside commodities, equities and traditional safe-haven investments.
Source: CoinDesk
Ripple moves closer to Australian financial license through acquisition
Crypto payments company Ripple is preparing to secure a major regulatory foothold in Australia through the acquisition of a local payments firm, as the company continues its global push to obtain financial licenses.
Ripple announced that it plans to acquire BC Payments Australia, a corporate entity linked to the European Banking Circle Group. The deal would give Ripple access to the firm’s Australian Financial Services License (AFSL), which is expected to become a key regulatory requirement for crypto companies offering financial services in Australia.
According to reports from The Australian, the acquisition is expected to close on April 1.
Ripple’s APAC managing director Fiona Murray said the decision to pursue the license was driven by strong institutional interest in digital assets within Australia.
“There is enough institutional interest in digital assets to warrant the investment for us,” Murray said.
Obtaining an AFSL has long been part of Ripple’s strategy for the region, she added. The license would allow the company to scale its payments infrastructure and operate more directly within the Australian financial system.
With the license in place, Ripple Payments would be able to manage the full lifecycle of a transaction, from onboarding and compliance to funding, foreign exchange, liquidity management and final payout, while integrating both traditional banking rails and blockchain-based assets.
The Australian expansion is part of a broader regulatory strategy by Ripple to secure licenses across multiple jurisdictions.
Over the past year, the company has obtained payment-related approvals in Singapore, the United Arab Emirates and the United Kingdom. In the United States, the company has also received conditional approval for a national trust banking charter.
At the same time, Ripple has been expanding the institutional use cases for its ecosystem, including the XRP token and its stablecoin Ripple USD.
Recent acquisitions have played an important role in that strategy. Ripple acquired prime brokerage firm Hidden Road, which has since been integrated as Ripple Prime. The move made Ripple the first crypto-native company to operate a multi-asset prime broker serving institutional clients across digital assets, derivatives, foreign exchange and fixed-income markets.
The company also acquired corporate treasury platform GTreasury to further expand its institutional services.
Ripple’s licensing plans coincide with broader regulatory developments in Australia’s crypto sector.
Lawmakers introduced the Digital Asset Framework bill last year. The legislation passed through the lower house in February and is currently being considered by the Senate.
Meanwhile, the country’s main financial regulator, Australian Securities and Investments Commission (ASIC), has proposed new rules that would require many crypto trading platforms to obtain an AFSL.
ASIC previously stated it would not take enforcement action over licensing requirements until at least June 30, 2026, giving companies time to comply.
Crypto exchange Coinbase is also reportedly working toward obtaining an AFSL.
Murray said the move toward formal licensing could also help address one of the biggest challenges facing the Australian crypto industry: debanking.
Several major banks have placed restrictions on transfers to cryptocurrency exchanges. Australia’s so-called “Big Four” banks — Commonwealth Bank, ANZ, National Australia Bank and Westpac — have all implemented varying limits on crypto-related transactions.
Industry leaders say these banking barriers continue to slow adoption.
At the XRP Australia conference earlier this year, Kate Cooper, CEO of OKX Australia, said the problem remains significant.
“It’s absolutely still a challenge in the industry,” Cooper said. “I don’t think there’s been any improvements. And we’re working hard with governments to encourage them to set some standards around it.”
For Ripple, securing an Australian license could help bridge that gap — allowing the company to operate more closely within the traditional financial system while expanding the reach of digital asset payments.
Source: Cointelegraph
Arthur Hayes waits to buy Bitcoin until the Fed starts printing money
BitMEX co-founder Arthur Hayes says he is holding off on buying Bitcoin for now and is waiting for a shift in US monetary policy before entering the market again.
In a recent appearance on the Coin Stories podcast, Hayes explained that he prefers to remain on the sidelines until the US Federal Reserve loosens its monetary policy and begins printing money again — a scenario he believes could be triggered by escalating geopolitical tensions.
“If I had $1 to invest right now, would I be putting it into Bitcoin? No. I would wait,” Hayes said during the interview, which was published on YouTube earlier this week.
According to Hayes, the key catalyst for a new Bitcoin rally will not necessarily be global conflict itself, but the economic response that follows.
Money printing is the real driver
Some investors argue that war is bullish for Bitcoin because it creates geopolitical instability. Hayes disagrees with that framing.
Instead, he believes the real driver for Bitcoin is expansionary monetary policy. “The longer this conflict goes on, the higher the likelihood that the Fed has to print money to support the American war machine,” Hayes said.
In his view, once central banks begin expanding the money supply again, Bitcoin will benefit as investors seek protection against currency debasement. “That’s when I’m going to buy Bitcoin, when the central banks start printing money.”
Bitcoin could fall further first
Hayes also warned that Bitcoin may not have reached its bottom yet. At the time of writing, Bitcoin is trading around $69,926, roughly 45% below its October all-time high of $126,000.
Ongoing geopolitical tensions, particularly the growing conflict between the United States and Iran, could trigger broader market turmoil.
“If this situation continues, there could be a massive sell-off in equities and Bitcoin,” Hayes said.
Such a scenario could potentially push Bitcoin below the $60,000 level again, especially if liquidations cascade through leveraged positions. Bitcoin briefly touched the $60,000 level in early February before starting a modest recovery.
Hayes still expects $250,000 Bitcoin
Despite his short-term caution, Hayes remains extremely bullish on Bitcoin’s long-term trajectory.
He previously predicted that Bitcoin could reach $250,000 by the end of 2026, a forecast he reiterated as recently as last October.
Hayes also believes that the market will not remain below six figures for many more years. “I don’t think there will be many more years where Bitcoin is sub-$100,000,” he said.
Other analysts see more immediate upside
Not everyone shares Hayes’ wait-and-see approach. Crypto analyst Michaël van de Poppe recently highlighted the strong performance of the Nasdaq as a positive signal for the crypto market.
“There are not many arguments left for uncertainty,” van de Poppe said. “I think we’ll see way more upside for Bitcoin and altcoins in the coming period.”
For now, however, Hayes appears content to wait for a clear signal from central banks before deploying capital.
Source: Cointelegraph