The U.S. military struck the Iranian navy near the Strait of Hormuz, destroying 16 small mine-laying vessels. The tense situation triggered volatility in the energy markets. Crude oil futures prices once approached $120 but later retreated. Trump warned that if Iran mines, it will face significant military consequences. The situation in the Middle East remains severe.

Bitwise Chief Investment Officer Matt Hougan pointed out in a memo that Bitcoin's price could reach $1 million in the future. He believes Bitcoin is competing with gold for the position of digital store of value, especially against the backdrop of the expanding global store of value market. If Bitcoin captures 17% of the market share, its price is expected to rise significantly.

According to Gate News, the Trump administration has demanded Israel cease airstrikes on Iranian energy facilities, especially oil infrastructure, to prevent a rise in global oil prices and Iranian retaliation. This is the first time the United States has imposed clear restrictions on Israel's military actions.

Multiple family offices in Hong Kong plan to increase investments in private equity and digital assets over the next three years, with wealthy families expected to show a significant rise in interest in these assets. The government aims to attract more high-net-worth individuals and their families to invest, and it is projected that by the end of 2025, the number of single-family offices in Hong Kong will grow to 3,384.

Between 13:30 and 13:45 (UTC) on March 10, 2026, Bitcoin (BTC) experienced a short-term sharp decline, with a return of -1.32%. The price fluctuation range was from 69,723.0 to 70,921.5 USDT, with an amplitude of 1.69%. Trading volume during this period significantly increased, with on-chain large transfers rising by 18%. Market volatility intensified, accompanied by a rapid rise in panic sentiment, reflecting investors' high concern over sudden anomalies. The main driver of this anomaly was the concentrated inflow of large on-chain transfers to exchanges, with some single transactions exceeding 1000 BTC, triggering institutional or large investor activity.

Garrett Jin analyzes the impact of the Strait of Hormuz crisis on the market, believing that the crisis will continue to affect risk assets and that 3 to 6 weeks are needed to rebuild the insurance mechanism. The rise in oil prices reflects supply disruptions, and risk assets need to wait for event developments before rising. The recent trend is an increase in crude oil and interest rates.

Gate News Report, March 10, market data shows that spot gold rose by $50 intraday, a 1.00% increase, currently trading at $5188.33 per ounce.

Gate News Report, March 10 — According to market data, Nasdaq 100 Index (the benchmark index for US tech stocks) futures increased to 0.6%, and S&P 500 Index (the benchmark index for the US stock market) futures rose by 0.4%.

On March 10th, the BSC ecosystem token MILADY's market capitalization continued to rise, reaching a peak of $6.7 million, currently at $6.3 million, with a 24-hour increase of 39%. Factors contributing to the rise include listing on multiple CEX platforms and participation in BNB Chain AI Agent X Space. Gate News reminds investors to be aware of the market risks associated with Meme coins.

Gate News Report, March 10th, Russian expert Ikbal Guliyev stated that in the coming days, if the G7 makes a positive decision to release additional reserves, oil prices (international crude oil futures prices) could drop to $100 per barrel. However, the market will then face geopolitical risks again, and actual supply will experience shortages. Guliyev believes that if the supply shortage persists long-term, oil prices could reach $150-160 per barrel.