Crypto Macro News and Global Policy Updates

The global crypto market is notably bearish, with a 2.93% drop in market capitalization to $2.32T. Bitcoin and Ethereum saw decreases of 3.07% and 4.01%, respectively. Meanwhile, notable gainers include $XBTC, $TRUMP, and $PEPE. DeFi TVL and NFT sales also declined significantly, while key investments from YZi Labs and Kazakhstan's central bank emerged.

Bitcoin ETFs experienced a significant withdrawal of $348 million amid declining institutional demand, reflecting a bearish sentiment in the market. Despite these outflows, BlackRock's ETF maintained its dominance.

Kazakhstan’s central bank plans to invest up to $350 million in cryptocurrencies and related assets, focusing on high-tech firms and financial products. This initiative aims to diversify investments and is linked to the development of Alatau City, a future smart city.

Gate News Report, March 7, market sources indicate that the United Arab Emirates is currently under attack by Iran, and the Al Dhafra Air Base in Abu Dhabi may be affected. UAE officials stated that Iran's attack has created a significant trust gap, which will persist for decades to come. They also emphasized that the UAE hopes Iran will immediately cease its aggression against non-belligerent countries, specifically the Gulf states.

Gate News Report, on March 7, an Iranian senior official who wished to remain anonymous told CNN that Iran is seeking new U.S. targets to strike in response to the threat issued earlier by President Trump that "Iran will face extremely severe retaliation."

Gate News Report, March 7 — According to CME "FedWatch" data, the probability of the Federal Reserve maintaining interest rates in March is 96.3%, while the probability of a 25 basis point rate cut is 3.7%.

Gate News Report, March 7, according to Farside monitoring data, U.S. Ethereum spot ETF has experienced a net outflow of $23.5 million this week.

Gate News Report, March 7th, U.S. President Trump announced that this week he will officially recognize the Venezuelan government and promote the sale of Venezuelan gold.

Gate News Report, on March 7th, the Iranian military spokesperson issued a statement saying that any enemy ships entering the Gulf will be sunk to the bottom of the water.

Gate News Report, March 7th, Chicago Federal Reserve Chair Goolsby stated that the Federal Reserve is expected to start cutting interest rates before the end of this year.

Gate News Report, March 7th, U.S. President Trump stated that the United States may increase its military budget to $1.5 trillion.

Gate News Report, March 7th, U.S. President Trump stated that the military budget could be increased to $1.5 trillion.

Gate News Report, March 7, according to Iran's Tasnim News Agency, Iran stated that it is waiting for the U.S. Navy to provide escort for its ships. Iran also reminded the United States to remember recent attacks on oil tankers.

Gate News Report, March 7, U.S. President Trump announced the formation of a new military alliance aimed at eliminating drug trafficking organizations.

Mexican billionaire Ricardo Salinas Pliego is heavily investing in Bitcoin, believing it can hedge against inflation and symbolize personal freedom. Robert Kiyosaki warns that a stock market crash is imminent and continues to increase his holdings in Bitcoin and precious metals, remaining confident. They both believe that Bitcoin has long-term value potential, and the current price dip is a good buying opportunity.

Gate News Report, March 7 — Christopher Hodge from Natixis stated that the Federal Reserve may face calls for rate cuts at the March FOMC meeting. He pointed out that if the economic data for February shows weakness and January's data is revised downward, the Fed's decision to hold steady will be questioned by the market. He believes this situation will reinforce the dovish view that recent labor market data may just be "fool's gold" (appearing good on the surface but lacking real value).

Citigroup is pushing for the banking of Bitcoin, planning to deeply integrate it into the traditional financial system, with institutional-grade crypto custody services expected to launch in 2026. By simplifying Bitcoin transaction processes and reducing operational friction, Citigroup aims to attract more institutions to adopt digital assets further. Additionally, the bank is exploring the applications of stablecoins and blockchain deposit tokens, hoping to provide traditional financial institutions with more convenient ways to utilize capital.

As geopolitical tensions in the Middle East escalate, Bridgewater founder Ray Dalio questions Bitcoin and reaffirms gold as the preferred safe haven. Nevertheless, gold prices fell accordingly, while Bitcoin only experienced a slight correction, indicating that the correlation between the two is weakening. Dalio doubts Bitcoin's transparency and future risks, but he still maintains a small allocation of Bitcoin for diversification.

Gate News Report, March 7, Kuwait Petroleum Corporation (Kuwait National Petroleum Company) issued a statement saying that in response to Iran's attack on Kuwait, the company has implemented preventive measures, reducing crude oil production and refining capacity.

According to the FATF report, stablecoins have become the preferred asset for illegal transactions, especially in countries like Iran and North Korea. The organization calls for increased regulation of stablecoin issuers and states that by 2025, stablecoins will account for the majority of illegal virtual asset transactions. To address these challenges, the FATF recommends that issuers strengthen their technical capabilities to improve regulatory efficiency.