🚨 Market Meltdown & Regulatory Moves: Today's Top Crypto Headlines 🚨
1. $BTC Slides Under $90,000 as Whales Sell Off: Is the Price Floor Cracking?
The crypto market felt a chill as Bitcoin dropped below the key $90,000 level. Analysts point to "whales"—long-term holders—utilizing covered call options, which forces market makers to sell spot BTC to hedge, exerting strong downward pressure on the price. Major coins like Ethereum also saw significant net outflows, signaling widespread caution.
Crypto Outflows: Bitcoin saw $151 million in net outflows.
Key Price Action: BTC trading at approximately $89,969 USDT.
2. NFT Frenzy Fades: Trading Volume Plummets 10% as Buyers Disappear
The once-booming NFT sector is showing signs of cooling. The total weekly trading volume dropped by over 10%, accompanied by a drastic reduction in market participation—nearly 67% fewer buyers and 70% fewer sellers entered the market. However, two networks stood out with surging volume: $BNB Chain and $SOL , suggesting a potential shift in where NFT activity is concentrated.
Weekly Volume: Down 10.18%.
User Drop: Buyers decreased by nearly 67%.
3. Massive Step for Crypto Adoption: Pakistan Clears Binance and HTX for Local Licensing
In a major move for global crypto integration, Pakistan has granted initial clearance to two of the world's largest exchanges, Binance and HTX, to begin the process of obtaining full digital-asset exchange licenses. This policy shift formalizes the industry and allows the platforms to establish regulated local subsidiaries. Furthermore, Binance is set to advise the country on a significant $2 billion asset tokenization and stablecoin project.
Policy Landmark: Initial clearance marks the start of a phased regulatory model.
Adoption Focus: Binance to aid Pakistan with a $2 billion asset tokenization plan.
4. $275 Million Ponzi Scheme Exposed: Indian Agency Cracks Down on Crypto Fraud
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