According to Bloomberg analyst Eric Balchunas, the USO crude oil ETF experienced unusually high trading activity on March 9, with a single-day trading volume exceeding $7.6 billion, setting a new record. Since it primarily tracks oil prices through futures contracts, long-term holding may face cost and price retracement risks, so investors should exercise caution. This surge in trading volume mainly resulted from the participation of professional traders and high-risk retail investors.

Gate News Report, March 9th, Russian President Putin stated that oil production related to the Strait of Hormuz could potentially come to a complete halt as early as next month. Putin pointed out that logistics will shift to more profitable markets, and Russian companies need to capitalize on the current situation. Additionally, Putin mentioned that the increase in global natural gas prices has exceeded that of oil.

This week will release the US February CPI and unemployment data, as well as the January PCE Price Index. Meanwhile, US and Israeli military actions may impact oil transportation through the Strait of Hormuz. The implied volatility of major maturities has risen significantly, with BTC short-term IV exceeding 65%, ETH short-term IV exceeding 80%, and the skew indicator declining.

Rystad Energy Vice President Janiv Shah pointed out that Middle East supply disruptions could lead to a significant rise in Brent crude oil prices. If the conflict lasts for two months, oil prices in April could exceed $110; if it continues for four months, they could reach $135 in May. Changes in oil prices will impact global stability.

Gate News Announcement: On March 9, Nasdaq-listed Bitcoin treasury company Empery Digital disclosed that last week it sold 102 Bitcoins at an average price of $71,636, reducing its total Bitcoin holdings to 3,562. In addition, the company has spent approximately $122 million to repurchase over 20.15 million common shares so far. Empery Digital stated that it will continue to sell Bitcoin as needed to fund future stock buybacks and may also repay some of its outstanding debt.

Gate News Report, March 9 — According to market sources, a senior Israeli official stated that Iran will not surrender, but may signal acceptance of a ceasefire under U.S. conditions.

BitMine announced that as of March 8, its total assets reached $10.3 billion, including 4,534,563 ETH and 195 BTC. Executive Chairman Tom Lee stated that amidst market uncertainty, ETH has shown resilience, and its price is expected to bottom out between March 8 and 14. Meanwhile, BitMine is accelerating its ETH accumulation, with staked ETH reaching 3,040,483.

Iran has been transporting large amounts of crude oil through the Strait of Hormuz, with 11 to 12 million barrels shipped since the outbreak of the conflict on February 28. The actual number may be higher, as monitoring agency TankerTrackers.com tracks vessel movements through satellite imagery.

Gate News Report, March 9th, according to Onchain Lens monitoring, BlackRock ETF address recently deposited 2,200 BTC (worth approximately $149 million) and 2,417 ETH (worth approximately $4.84 million) into a certain CEX, totaling about $154 million. On-chain data shows that more assets may be transferred to this exchange in the future.

According to data from the Federal Reserve Bank of St. Louis, by the end of 2025, job vacancies in the U.S. finance and insurance industry will drop to 134,000, a 13-year low, down 75% from 2022. Analysts warn that more layoffs may occur, while the U.S. Bureau of Labor Statistics reports that employment unexpectedly decreased in February, but financial activities defied the trend by adding 10,000 net jobs, which could influence the Federal Reserve's interest rate cut policy.