Geopolitical Tensions
Bitcoin retreats toward $70,000 as Iran war intensifies, ahead of options expiry
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Following a mid-week rally above $68,000, Bitcoin retreated toward $70,000 by early March 6, 2026, erasing $110 billion in market capitalization amid worsening Iran conflict, rising oil prices, and a strengthening U.S. dollar. The pullback occurs despite ongoing institutional adoption, with $2.6 billion in Bitcoin options set to expire, heightening volatility risks.
Seoul's stock market plunged for a second day, with the KOSPI index falling 12.06% to close at 5,093.54 amid fears of economic fallout from the Middle East conflict. The Korean won weakened sharply against the U.S. dollar, trading at 1,476.20 won, down 10.1 won. The downturn followed U.S. and Israeli strikes on Iran that killed Supreme Leader Ayatollah Ali Khamenei.
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Bitcoin experienced volatility on February 18, 2026, trading in a tight range before dropping to around $66,000 in the U.S. afternoon following hawkish Federal Reserve minutes. Crypto-related stocks initially rebounded but later reversed gains, while liquidations neared $200 million. Geopolitical tensions and macroeconomic uncertainty contributed to the market's choppy performance.