4.17 Crypto Morning Report: ORDI surges 190%! BlackRock aggressively buys 290 million BTC, mining companies hit record sell-offs

17 April 2026, the crypto market continues its strong momentum under the dual influence of geopolitical tensions and expectations of liquidity easing. BTC remains steady at $74,500, ETH holds firm at $2,200, the leading BRC-20 ORDI skyrocketed 190% in a single day, igniting the scene, and altcoin rotation enters a高潮.
$ORDI ‌
I. Altcoin Carnival: ORDI deifies, ETF funds flood in

The pattern of "BTC stable, altcoins soaring" is further reinforced:

- ORDI epic rally: Violently broke through from around $3.5 to $10.7, up over 190% in 24 hours, becoming the most dazzling target in the market, driving the entire Ordinals/BRC-20 sector to explode collectively
- ETF funds increase positions: SOL ETF net inflow of $15.5 million in one day, nearly tripling from the previous day; XRP ETF net inflow of $11.87 million, with two major altcoin ETFs expanding simultaneously, confirming institutional funds shifting toward high-elasticity assets
- US stock crypto stocks follow suit: S&P 500 surpasses 7051 points, hitting a new high, MARA surges 10.32%, MSTR up 3.76%, market risk appetite continues to heat up

II. Geopolitical game: Tensions escalate, market bets on agreement implementation

Rare signs of division appear in geopolitical situations:

- Iran's Revolutionary Guard issues an "unprecedented stern warning," announcing control measures on all ships passing through the Strait of Mandeb from noon the next day, spreading geopolitical risk from the Strait of Hormuz to the Red Sea's throat
- Trump publicly declares that the US-Iran agreement will be announced "soon," bringing "free oil + free Hormuz," claiming current oil prices are only half of expectations
- The market clearly trusts Trump's optimistic statements more; after Iran's threats, US stocks and crypto markets still rose across the board, pricing in "a final peace agreement will be reached"

III. On-chain extremes: BlackRock keeps accumulating coins, mining companies collectively "surrender" and sell off

On-chain data shows a highly divided polarization:

- BlackRock continues buying: Second large-scale withdrawal this week, transferring 3,899 BTC + 839 ETH from Coinbase, worth about $292 million, all moved to self-held addresses, demonstrating confidence in long-term holdings
- Record sell-offs by mining companies: North American six major listed miners sold over 32,000 BTC in Q1, exceeding the total for all of 2025, and even surpassing the bear market sell-off levels of 2022. The main reason is mining cost inversion (about $80,000 per BTC), forcing miners to sell BTC to fund AI/HPC transformation; related industry has signed contracts worth over $70 billion

IV. Macro and industry: Rate cut expectations strengthen, regulatory progress steadily

- Federal Reserve Governor Milani clearly states that this year is inclined to cut rates 3 times, "possibly 4 times," further reinforcing market easing expectations; CME interest rate futures have priced in 2.8 rate cuts for the year
- Tennessee's Bitcoin reserve law will hold a hearing on April 20, marking the latest development in the US states' BTC reserve legislation wave
- Google is negotiating with the Pentagon to deploy Gemini in classified military environments, with terms replicating a contract template previously rejected by OpenAI; AI giants show clear divergence on militarization issues

Overall, the current market is in a liquidity-driven altcoin golden period, but two major risks should be watched: first, sudden deterioration of geopolitical tensions breaking peace expectations; second, persistent sell-offs by mining companies increasing BTC selling pressure. Participants in altcoin trading must strictly control positions and set stop-loss and take-profit levels. $BTC $ETH #Allbirds转型AI