A whale has shorted 428.73 BTC and 13,852 ETH with 20x leverage, currently sitting on over $1.15 million in unrealized gains

On March 20, data from Onchain Lens monitoring reveals the WLFI team unlocked its treasury wallet and deposited 135 million WLFI tokens (valued at roughly $12.52 million) into Binance.

March 20th — JPMorgan Chase has cut its year-end target for the S&P 500 Index from 7,500 to 7,200 points, citing elevated economic recession risks tied to the Iran conflict and surging oil prices. The bank warned the market may be underestimating how rising energy costs will impact the economy. While investors are focused on inflation, JPMorgan argues the bigger threat lies in consumer demand — a dynamic that could weaken economic growth. Historically, oil price surges of more than 30% have often triggered demand contraction and frequently precede a recession. In the short term, the S&P 500 could see further declines, especially after breaking below its 200-day moving average — a bearish technical signal. If the selloff persists, the index may find support in the 6,000-6,200 point range. JPMorgan still expects the economy to recover later this year, backed by investments and stimulus measures, but ongoing geopolitical risks mean the recovery will likely be more limited than pr

March 20: U.S. President Trump said Fed Chair Powell should cut interest rates. (Forex Factory)

March 19: Crypto reporter Eleanor Terrett posted on social media that following a Senate Republican meeting on crypto market structure (attended by White House Crypto Czar Patrick Witt), Sen. Cynthia Lummis told reporters negotiations on the revenue/reward mechanism are progressing but remain in a “delicate stage.” The current focus, she noted, has shifted from upcoming legislative text to “who needs to be brought on board.” Lummis added: “I think some important ideas were sparked in this meeting. There’s now a path forward I didn’t anticipate when I walked in.” Witt looked somewhat frustrated after the meeting and did not comment. Sen. Tim Scott left with his usual smile but declined to comment, stating he would not take questions from reporters in the hallway.

March 19th — Per HTX market data, Ethereum has fallen below $2100, registering a 3.5% drop over the past 24 hours.

On March 19, U.S. political news outlet Politico reported that the United States will not impose an oil export ban.