Gate News Report, March 9 — G7 officials stated that a broad consensus was reached at the G7 finance ministers' meeting on Monday to temporarily hold back from releasing oil reserves.

Ethereum (ETH) recently dropped nearly 8%, hitting a low of $1912, mainly due to market concerns over the founder transferring a large amount of ETH. However, institutional investors remain actively involved, with a short-term support level at $1920. If maintained, a rebound to $2000 is possible. Technical analysis shows bearish signals, and future trends will depend on the performance of large holders and support levels.

The Bitcoin market is consolidating at high levels, and the number of holders surpassing gold owners indicates increased recognition of it as a new store of value. The US market demand is strong but faces a key technical test, requiring a steady hold above $63,700. The flow of funds will determine the future price trend.

Recently, Bitcoin's price has been fluctuating around $67,500, but related crypto concept stocks have experienced a significant pullback, sparking market concerns about risk. Data shows that the stock prices of many publicly traded companies holding Bitcoin have declined, and some investors are already in unrealized losses. This situation echoes signals from the 2022 crypto market crisis, with funds flowing out of crypto ETFs and investors beginning to reduce their risk exposure. Nevertheless, publicly traded companies still hold large amounts of Bitcoin, and future development depends on increased institutional participation.

Gate News Announcement, March 8 — On March 9, U.S. President Trump posted on social media: "The short-term rise in oil prices — which will quickly fall after the Iran nuclear threat is eliminated — is just a very small price to pay for the safety and peace of the United States and the world. Only fools would hold a different view."

Gate News: On March 8, the U.S. Department of the Treasury submitted a report to Congress under the GENIUS Act, recommending that DeFi be explicitly required to undertake anti-money laundering and counter-terrorism financing (AML/CFT) obligations, and considering the establishment of a "hold law" mechanism for digital assets, allowing institutions to temporarily freeze assets during investigations of suspicious transactions without a court order. The report also revealed that the scale of crypto crimes continues to grow, with FBI records showing $9 billion in crypto scam losses in 2024.

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).

Gate will hold a VIP exclusive airdrop event from March 6 to March 16. The event is open to VIP 5 and above users. Participants need to register and complete designated trading volumes to receive a share of the 30,000,000 GF prize pool. VIP 5–7 users will share 70% of the prize pool, while VIP 8–14 users will share 30%.

Gate News reports that on March 6, according to monitoring by Emmett Gallic, the Winklevoss brothers transferred 1,750 BTC (worth $128 million) to a certain CEX hot wallet yesterday (March 5). It is reported that the Winklevoss brothers held 108,000 BTC in 2014, accounting for nearly 1% of the total Bitcoin supply at that time. They currently hold 8,757 BTC.

On March 6, news reports that on-chain analysts detected a major whale reducing its holdings during a market downturn, selling 4,000 ETH worth approximately $8,309,000, with a profit of $7,760. Currently, they still hold 3,008 ETH.