Bitcoin Rebounds, Surges Above $93,000

March 17th — Huobi HTX has rolled out a limited-time leveraged trading interest cashback event for March, per an official announcement. The event runs from 6:00 PM UTC+8 on March 16 through 6:00 PM UTC+8 on March 31. Registered users can participate in leveraged trading and earn a 30%-100% cashback on their actual interest, based on their cumulative leveraged trading volume.

March 17 — Jack Ma, chairman of Ant Group and a 1994 alumnus of Shanghai Jiao Tong University (SJTU), and his wife (also a 1994 SJTU graduate) have jointly donated cash and Ant Group shares worth 130 million yuan to their alma mater to support the “AI Future Cornerstone Fund.” Zhang Jie, president of SJTU and a member of the Chinese Academy of Sciences (CAS), congratulated Ma on his appointment to the university’s school board of directors and expressed sincere gratitude for the generous donation on behalf of SJTU. He noted that Ma has not only contributed financially to his alma mater’s development but also actively advanced the school’s AI strategy from a blueprint to reality through deep engagement—embodying the SJTU spirit of “remembering one’s roots, loving the country, and honoring the alma mater.” The university will further unite with its alumni, align efforts, and work together to advance its goal of building a world-class institution.

On March 17, OnchainLens monitoring data indicates that MetaPlanet—Japan’s largest Bitcoin custodian—transferred 4,986 Bitcoins (valued at $368.3 million) to a new wallet address after three months of inactivity. The move is speculated to be a routine fund consolidation rather than a sale.

March 17: WTI crude oil futures temporarily surged over 3%, with intraday gains expanding to 5.5%, per HyperInsight monitoring (https://t.me/HyperInsight). On Hyperliquid (https://app.hyperliquid.xyz/join/NTOD), CL (WTI crude oil) prices also climbed, currently trading at $97.5. This rally directly boosted on-chain long positions. MakerDAO founder Rune Christensen opened a 20x leveraged long position in CL on March 7 at an average price of $92.6, with unrealized gains now around $310,000 (+17.3%). Additionally, a whale with over $10 million in on-chain positions is largely short—this sudden crude oil spike has pushed these short positions into collective unrealized losses.

March 17 The Middle East situation remains escalated, shifting market focus away from "ceasefire prospects" toward "full threat mitigation." Trump called for Fed rate cuts and hinted the conflict would eventually push oil prices lower, but Gulf nations have undergone a structural attitude shift—from conflict avoidance to backing efforts to weaken Iran’s military capabilities. Regional risk has evolved from a short-term event to a long-term restructuring of the security framework. Meanwhile, the U.S. has allowed some oil tankers to transit through the region, even as oil-producing nations face supply disruptions, leaving the energy market in a highly distorted state. Policy divergence has widened: On one hand, conflict is pushing up energy and transportation costs, entrenching sticky inflation; on the other, economic momentum is losing steam. Markets have quickly adjusted their Fed expectations—rate cut probabilities have dropped sharply, with a chance of renewed rate hikes later t

On March 17, U.S.-listed BGIN Blockchain Limited (Nasdaq: BGIN) — a digital asset technology company with proprietary cryptocurrency mining technology and a crypto mining hardware manufacturer — announced the successful first tapeout of its BT1 Bitcoin mining ASIC chip using a 4-nanometer process. This marks the company’s first proprietary chip tailored exclusively for Bitcoin mining, a key milestone in its Bitcoin mining chip initiative. The project previously entered the tapeout phase in October 2025 and achieved its first successful tapeout. With tapeout complete, the BT1 chip has moved into system-level testing and production readiness phases. This marks BGIN’s seventh consecutive successful ASIC mining chip tapeout since 2022, establishing an impressive execution track record. BGIN noted the successful tapeout reduces development risks and bolsters the company’s confidence in executing its multi-generation Bitcoin mining roadmap. The firm has also launched early developme