March 20, Qiqi Crypto Share:

The bloodbath continues. Cumulative decline over 7.2% in two days. Yesterday's low touched around $68,793, barely held this morning, currently clinging to the $70,000 level.

Today's Deribit expiration scale reaches $1.72 billion, with maximum pain point exactly at $70,000. Options Put/Call ratio 0.49, futures funding rate all negative, BTC futures open positions also declined 5.6% to $106.9 billion, short-term chips clearly bearish.

Silver crashed >10% in a single day yesterday, gold broke below $4,600
US stock Dow Jones plummeted 750 points creating new closing low for 2026, Dow down 750 points creating year-to-date low, S&P -0.22%, Nasdaq -0.3%

Today's Highlights:

1️⃣$TAO continues to surge, accumulated gains exceeding 46% since early month, Subnet 3 (Templar / τemplar, SN3) completed the largest-scale fully decentralized LLM pretraining in history.

2️⃣DEX aggregator $JUP recently launched tokenized Pre-IPO stock trading functionality, enabling ordinary people to directly buy and sell "equity tokens" of top unlisted companies on-chain, including stocks of spacex, openai, anthropic, kalshi, polymarket and others.

3️⃣Animoca Brands invests in $AVAX , focusing on Asia and Middle East expansion, prioritizing support for Avalanche ecosystem projects, especially in entertainment (gaming/NFT), RWA, and digital identity three major tracks.

【Risk Reminder】Today's crypto fear index: 11 (extreme fear), Dyor is always the first principle, investment carries risk, please participate cautiously!