BREAKING: $435 million has been liquidated from the cryptocurrency market in the past 12 hours.

March 20 — ByteDance announced Tuesday that it has reached a final agreement to sell Moonton Technology to Savvy Games Group (a subsidiary of Saudi Arabia’s Public Investment Fund, PIF) for over $6 billion. Moonton is the developer and publisher of *Mobile Legends: Bang Bang* (MLBB), the popular Southeast Asian MOBA mobile game ByteDance acquired in 2021. Reports note ByteDance has made a significant AI investment alongside a decline in overall profits in Q4 2025. The Moonton sale is viewed as a sign the company is doubling down on its AI-focused strategy. (Jiemian)

March 20th (CoinDesk) — Bitcoin’s current trend bears a striking resemblance to the price structure that preceded its plunge to $60,000 between November 2025 and January 2026. Technically, since bottoming out in early February, BTC has traded in a narrow, slightly upward-sloping channel — mirroring the consolidation phase that followed its drop from $100,000. Back then, the market saw a slow, oscillating climb before a false breakout triggered a sharp dive from ~$90,000 to nearly $60,000. This pattern is known in technical analysis as a “counter-trend bounce” — a minor rebound within a broader downtrend. The current bounce lacks explosive momentum, signaling bullish exhaustion; the market appears to be pausing as bears ready to regroup. $65,800 is a critical support level. A break below the channel’s lower bound (~$65,800) would signal a shift in favor of bears. Conversely, an upside breakout could slow the downtrend, potentially clearing the way for a strong bullish comeback.

On March 20, Cointelegraph reported that the U.S. Ninth Circuit Court of Appeals denied prediction market platform Kalshi’s application. The federal appeals court greenlit Nevada’s regulatory body to enforce a temporary restraining order (TRO) against Kalshi, blocking it from offering sports-related event contracts. Earlier this month, Nevada’s Gaming Control Board issued a cease-and-desist letter to Kalshi, claiming its sports event contracts qualify as unlicensed sports betting under state law. Kalshi countered that its contracts fall under the exclusive federal purview of the U.S. Commodity Futures Trading Commission (CFTC), adding that any restrictions would cause “imminent harm” to the firm. Attorney Daniel Wallach noted a TRO against Kalshi “appears imminent”—and since TROs aren’t appealable in Nevada, Kalshi will have to exit the state market for at least 14 days, pending a preliminary injunction hearing. Kalshi and rivals including Polymarket, Crypto.com, Coinbase, and ot

On March 20, per an official announcement, Binance will support the Dai (DAI) token swap and rebrand it to USDS (USDS). Binance will suspend trading and delist all existing DAI spot trading pairs—BTC/DAI, DAI/JPY, ETH/DAI, and USDT/DAI—on April 7, 2026, at 11:00 UTC+8. All open orders will be automatically canceled at that time. Starting April 9, 2026, at 16:00 UTC+8, spot trading for BTC/USDS, ETH/USDS, and USDS/USDT will go live.

On March 20th, per Hyperinsight monitoring (via its Telegram channel: https://t.me/HyperInsight): At 11:00 PM UTC last night, a whale with an address starting with 0x099 aggressively bought the dip when BTC briefly fell below $69,000—stacking 40x leveraged long positions on BTC. The position quickly swelled to $2.89 million, with an average entry price of $68,896 and a liquidation price of $67,915. Following a slight price rebound today, the position holds ~$66,000 in unrealized gains (an 89% return). The whale has also placed a market stop-loss order to close the position at breakeven if BTC drops back to $69,000; no profits have been realized yet.

On March 20, HTX DeepThink columnist and HTX Research researcher Chloe noted that the current impact of macro variables on the crypto market has shifted—from "loose policy expectations fueling risk appetite" to "prolonged high interest rates and energy shocks pushing up inflation tail risks." While the Fed stuck to its median forecast of one rate cut this year, Powell’s core message was unambiguous: further cuts won’t happen if inflation doesn’t fall meaningfully. Short-term U.S. Treasury yields rose afterward, signaling the market is unwinding overly optimistic rate-cut expectations. In crypto, high-beta altcoins, AI-themed tokens, and purely narrative-driven assets are most vulnerable. Meanwhile, tensions in the Middle East have lifted oil prices, reviving risks of "second-round inflation." While the Bank of Japan (BOJ) held rates steady, its path toward future rate hikes remains intact. Over the next few weeks, watch for two key catalysts: whether U.S. inflation and jobs da