US Stock Futures Dive Further

March 8th saw Rita Fan—Chairperson of Hong Kong’s Legislative Council and a National People’s Congress (NPC) deputy—announce her full support for Hong Kong’s first five-year plan. Vincent Chan, another Hong Kong NPC delegate, noted the need to cautiously develop emerging financial products like stablecoins and virtual assets. Multiple financial institutions (including banks, securities firms, and insurers) have already adopted artificial intelligence (AI), and better regulation of AI—including enhanced oversight—is needed to safeguard Hong Kong’s financial security and prevent potential issues. Additionally, Holden Chow, a member of Hong Kong’s Legislative Council Election Committee, said the 14th Five-Year Plan outlines China’s development direction for the next five years and beyond. In this new phase, Hong Kong should fully leverage its strengths to advance the “four centers and one highland” initiative: consolidate its status as an international financial, shipping, and trade hub;

March 8th: Garrett Jin, agent for "BTC OG Whale Insider," posted on X noting a clear historical link between oil supply gaps and price surges: - 1973: ~7% supply gap → ~300% price spike - 1979: ~5% gap → ~150% surge - 1990: ~6% gap → ~130% jump Current potential supply shock tied to the Strait of Hormuz: ~15%—far bigger than any historical case. Most institutional models assume the shock will last just a few days to weeks; few expect it to stretch to months. If the market’s consensus on the shock’s duration breaks down, more long positions could be forced into play, pushing oil prices higher still.

On March 8th, per on-chain analyst Auntie Ai (@ai_9684xtpa), the whale who netted $185k in profits from ETH scalping on March 3rd has made another move: Three hours ago (as of monitoring), the whale withdrew 6,898.98 ETH (valued at $13.58 million) from OKX at a withdrawal price of $1,968.58. Previously, the whale entered the scalping position at $2,056, with a suspected exit point of $2,083—holding the position for 3 days total.

March 8 — Prediction market Kalshi is facing a class-action lawsuit over settlement issues tied to Iran war-linked prediction contracts, *The Information* reported. Plaintiffs allege the platform failed to pay appropriate bonuses to users holding relevant contracts, with the dispute centering primarily on the "Will Khamenei step down" event contract. Previously, Kalshi CEO Tarek Mansour publicly condemned profiting from individual deaths and stated fees tied to this event contract market would be refunded. The dispute arrives amid a surge in geopolitical prediction market trading volume — which at one point drew a large number of users — and has sparked ethical and regulatory debates over whether trading in war or individual death-related events should be permitted.

On March 8, The New York Post reported that Robert Kennedy Jr. has confirmed his 2028 U.S. presidential campaign. Previous public disclosures show he holds at least $1 million in Bitcoin and has no plans to divest the asset. Kennedy has publicly stated he is a vocal Bitcoin advocate, arguing that decentralization, Bitcoin’s supply cap, and hard assets like gold and silver can stabilize the U.S. dollar and curb currency devaluation.

March 8: Renowned analyst Willy Woo posted on X, noting that while Bitcoin faces local resistance near $75,000, investor capital inflows have been steadily recovering since mid-February. Meanwhile, the CBOE Volatility Index (VIX) — the market’s gauge of expected stock volatility — signals sentiment could shift to “risk-on” in the coming weeks. Woo pointed out Bitcoin’s decline speed in the early stages of this bear market was “too rapid.” The current environment is setting the stage for a rebound that could test the ~$85,000 level (the cost basis for short-term investors), but this does not mean the market has bottomed out. From a long-term liquidity standpoint, Bitcoin remains in the mid-stages of this bear market. Historically, following such a rapid drop, prices typically enter a consolidation phase and retest key resistance levels multiple times during the rebound.