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Bitcoin (BTC) Price Slips Under $70K Amid Iran Tensions and Upcoming CPI Report

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Brian Armstrong's Bold Prediction: AI Agents Will Soon Dominate Global Financial

TLDR

  • BTC declined 0.5% to approximately $69,583 during Wednesday’s Asian session
  • The cryptocurrency momentarily climbed past $70K on Tuesday following Trump’s Iran peace comments
  • Wednesday’s US CPI release could influence Federal Reserve policy outlook and digital asset markets
  • Spot Bitcoin ETFs recorded $251 million in net inflows on March 10
  • Market sentiment indicator Crypto Fear & Greed Index holds at 15, maintaining “extreme fear” status

Bitcoin retreated beneath the $70,000 threshold during Wednesday’s Asian session, declining 0.5% to reach $69,583.5 as of 01:55 ET. This pullback followed Tuesday’s temporary bounce above $70,000.

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Bitcoin (BTC) Price

Tuesday’s upward momentum received support from statements by US President Donald Trump, who indicated the Iranian conflict might be “pretty much” concluded. This commentary temporarily boosted market sentiment and lifted Bitcoin from the mid-$60,000 levels observed earlier in the week.

Subsequently, Trump issued a message on Truth Social warning that any Iranian interference with petroleum supplies would trigger heightened US military action. Meanwhile, military engagements involving US, Israeli, and Iranian forces in the Gulf region have persisted.

Crude oil valuations had surged near $120 per barrel following the practical closure of the Strait of Hormuz, disrupting critical maritime trade channels. While prices moderated following Trump’s preliminary statements, they continue trading at elevated levels.

Blockchain analytics provider Santiment documented a return to bullish sentiment on social platforms Tuesday. Favorable discussions increased across X, Reddit, and Telegram in response to Trump’s statements and the petroleum price decline.

Institutional Activity and Bitcoin ETF Momentum

US-listed Bitcoin spot exchange-traded funds registered combined net inflows totaling $251 million on March 10. Corporate Bitcoin accumulator Strategy acquired approximately 18,000 BTC last week and executed an additional purchase this week.

Merkle Tree Capital’s Chief Investment Officer Ryan McMillin observed that Bitcoin has maintained support above its February lows while demonstrating strength amid geopolitical turbulence. He suggested that bearish positions could experience pressure toward the $80,000 level.

Rachael Lucas, a cryptocurrency analyst with BTC Markets, indicated that recapturing the $70,000 level publicly triggers FOMO concerns, identifying it as a crucial resistance threshold.

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Market Sentiment Remains Deeply Pessimistic

Notwithstanding enhanced social media optimism, Wednesday’s Crypto Fear & Greed Index registered 15, remaining firmly in “extreme fear” territory. Google Trends data for “Bitcoin” searches measured approximately 71, retreating from the March 5 peak of 100.

The United States Consumer Price Index report arrives later Wednesday. These inflation metrics could reshape Federal Reserve monetary policy projections and impact risk sentiment across cryptocurrency markets.

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Market participants are also monitoring developments around the stalled CLARITY Act. Reports indicate US lawmakers are pursuing a compromise regarding stablecoin yield regulations, which represents a contentious issue between traditional banking institutions and cryptocurrency companies.

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Crypto World

DOJ Investigates Iran’s Use of Binance to Evade US sanctions: WSJ

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DOJ Investigates Iran’s Use of Binance to Evade US sanctions: WSJ

The Department of Justice is investigating Iran’s use of Binance for alleged sanctions evasion after the exchange repeatedly denied wrongdoing.

The US Department of Justice is reportedly investigating Iran’s use of Binance for alleged sanctions evasion.

The DOJ is investigating whether Iran used Binance to evade US sanctions and whether transactions on the exchange helped route funds to networks linked to Iran-backed groups, including Yemen’s Houthi militants, the Wall Street Journal reported Wednesday, citing company documents and people familiar with the matter.

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The WSJ said it remains unclear whether the DOJ is investigating Binance itself, its users, or both. Officials have contacted people with knowledge of the transactions to seek interviews and gather evidence, the report said.

The probe follows earlier reporting that Binance dismantled an internal investigation into roughly $1 billion that flowed through the platform to a network tied to Iranian proxy groups.

The DOJ had not confirmed the investigation at the time of publication. Binance did not immediately respond to Cointelegraph’s request for comment.

Related: CZ says CEXs have ‘zero motive’ to aid terrorists as court dismisses terrorism suit

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US Senate Democrats launched a probe in February, and Binance has repeatedly denied any wrongdoing.

Binance pleaded guilty in 2023 to violating US anti-money-laundering and sanctions laws, paying a $4.3 billion fine and agreeing to operate under US oversight.

Former Binance CEO Changpeng “CZ” Zhao pleaded guilty to related charges and spent four months in jail in 2024. In October 2025, CZ received a pardon from US President Donald Trump.

Magazine: How crypto laws changed in 2025 — and how they’ll change in 2026

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