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Why $70,000 Is the Most Critical Level Right Now

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Why $70,000 Is the Most Critical Level Right Now

Bitcoin continues to face intense selling pressure, breaking below its yearly lows amid escalating geopolitical tensions between the United States and Iran. This risk-off backdrop has accelerated downside momentum, and while further weakness remains possible, the market is increasingly approaching levels that could trigger a short-term consolidation phase in the days ahead.

Bitcoin Price Analysis: The Daily Chart

On the daily timeframe, BTC has been hit by aggressive sell-side activity, driving the price decisively below key support levels, including the major yearly low at $74K. The decline has now extended into the $70K psychological zone, a historically significant area where resting demand and dip-buying interest are likely to emerge.

If this demand region succeeds in absorbing selling pressure and fresh buyers step in, the current downtrend may pause, allowing the market to transition into a corrective consolidation phase. In that scenario, the price action would likely stabilize within a $70K–$80K range as the market cools off. However, a clear failure to hold the $70K level would expose Bitcoin to another downside leg, with the next notable support located near the $63K region.

BTC/USDT 4-Hour Chart

From a lower-timeframe perspective, the 4-hour chart shows Bitcoin trading within a well-defined bearish channel, confirming a structurally weak market environment. The asset recently broke below the channel’s midline near $74K, triggering an impulsive sell-off toward the lower boundary of the structure.

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Despite the sharp decline, Bitcoin has now reached a critical support level at $70K, which also carries strong psychological importance for market participants. Given the speed and intensity of the recent move, the market is likely in need of a consolidation and corrective phase. As a result, the most probable near-term scenario is choppy, range-bound price action around the $70K support until a clearer directional signal emerges. In the event of a relief bounce, the $75K and $80K supply zones stand out as the primary upside targets.

Sentiment Analysis

The futures average order size chart shows a notable shift in participant behavior as Bitcoin trades around the $70K region. The appearance of green dots at this level signals renewed whale participation, indicating that large players are actively engaging when price revisits this zone. Importantly, this is not an isolated event. The previous two occasions when Bitcoin traded around the same price range were also accompanied by green dots, reinforcing the idea that this area has historically attracted whale interest.

This repeated pattern suggests that the $70K region is perceived by large market participants as a favorable accumulation or positioning zone rather than an area for aggressive distribution. In contrast to periods dominated by red dots, which reflect retail-heavy or reactive selling, the return of green dots points to more strategic, higher-conviction activity in the futures market.

If this behavior persists and whale participation continues to strengthen around current levels, it increases the probability of a short- to mid-term rebound. Large orders entering at these prices can absorb selling pressure and act as a catalyst for stabilization, potentially setting the stage for a relief move higher if broader market conditions allow.

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Binance Shifts From Exchange to Crypto Infrastructure Backbone in MENAP

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Crypto Breaking News

Editor’s note: The press release below outlines how Binance is repositioning its role in the MENAP region as crypto markets mature, shifting emphasis from pure trading activity to regulated infrastructure and institutional integration. It details recent regulatory approvals, compliance milestones, and partnerships across the UAE, Pakistan, and Bahrain, highlighting a strategy focused on long-term adoption rather than rapid user growth. The announcement reflects broader market trends toward regulatory alignment, embedded financial services, and scalable digital-asset infrastructure as governments and institutions across the region formalize their approach to crypto.

Key points

  • Binance is emphasizing infrastructure, compliance, and institutional partnerships over speculative trading growth.
  • The ADGM FSRA license positions Binance within one of the world’s most stringent regulatory frameworks.
  • In Pakistan, Binance has secured AML registration and begun a phased path toward local licensing.
  • A Bahrain partnership aims to integrate regulated crypto services directly into a bank’s mobile app.

Why this matters

The MENAP region is moving quickly from crypto experimentation to regulated adoption. As governments and banks seek compliant ways to offer digital-asset services, platforms with proven scale, governance, and regulatory credibility gain a structural advantage. Binance’s recent milestones illustrate how crypto firms are increasingly aligning with traditional financial systems, shaping how digital assets may be accessed, supervised, and used by institutions and consumers across the region.

What to watch next

  • Final regulatory approvals tied to announced licenses and registrations.
  • Implementation timelines for bank-led crypto integrations in Bahrain.
  • Further regional partnerships with financial institutions or regulators.

As the global crypto market enters a more mature phase, a quiet transformation is underway. What was once driven by speculative trading and rapid experimentation is increasingly being shaped by institutional participation, regulatory clarity, and real-world financial integration.

At the center of this shift is a growing focus on infrastructure, the systems, liquidity, compliance frameworks, and technical rails that allow digital assets to operate at scale. Binance, long known as the world’s largest cryptocurrency exchange, currently serving more than 300M users, is repositioning itself to reflect this new reality: not simply as a trading platform, but as core crypto infrastructure supporting the next generation of digital finance.

This evolution is particularly visible across the region, where regulators and financial institutions are actively building frameworks for digital-asset adoption. From the UAE to Bahrain to Pakistan, Binance’s recent regulatory milestones and partnerships point to a strategy centered on long-term integration rather than short-term growth.

From Trading Venue to Infrastructure Layer

Global market data illustrates how crypto usage is changing. On-chain activity reached record levels in 2025, with both spot and derivatives volumes rising, signaling a transition from early experimentation to consistent execution. At the same time, stablecoins have become a foundational settlement layer, processing more than $3.5 trillion in daily volume, surpassing traditional payment networks. These trends favor platforms that can operate at scale, with deep liquidity, technical reliability, and regulatory alignment. In 2025 alone, more than $34 trillion was traded on Binance’s platform, with spot volume exceeding $7.1 trillion. All-time trading volumes across products have now surpassed $145 trillion, underlining Binance’s central role in global crypto liquidity.

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Compliance Becomes a Catalyst for Growth

As crypto markets mature, compliance is increasingly seen not as a constraint, but as a driver of sustainable growth. Binance’s compliance investments have expanded significantly alongside its growth. In 2025, the company’s controls prevented $6.69 billion in potential fraud and scam losses, protecting more than 5.4 million users. Binance also processed over 71,000 law-enforcement requests globally, reflecting deeper cooperation with authorities and an increasingly formalized compliance posture. For MENAP markets in particular, where regulators are designing digital-asset frameworks in parallel with rapid fintech growth this compliance-first approach has become central to Binance’s regional strategy.

ADGM License Sets a New Regulatory Benchmark

A key milestone in this shift was Binance securing a comprehensive global license from Abu Dhabi Global Market’s Financial Services Regulatory Authority (FSRA), widely regarded as one of the world’s most respected financial regulators. The authorization represents a world-first for the crypto industry and positions Binance among a select group of global financial institutions operating under ADGM’s regulatory framework. The license confirms compliance with stringent international standards covering governance, risk management, and consumer protection. The FSRA license therefore serves as a gateway for deeper institutional relationships, from custody and payments to cross-border partnerships.

Pakistan: Phased Regulation and Market Entry

Binance is advancing a phased regulatory strategy in Pakistan, one of the region’s largest and fastest-growing digital economies. Following high-level engagements with government stakeholders, Binance has obtained Anti-Money Laundering (AML) registration under Pakistan’s Virtual Assets Regulatory Authority (PVARA). The move marks a significant step toward full local licensing and incorporation.

In parallel, Binance has signed memorandums of understanding with local fintech players, including JazzCash, to explore cooperation on education initiatives and compliant digital-asset products, signaling a longer-term commitment to ecosystem development rather than transactional market entry.

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Bahrain: Integrating Crypto Into Banking

In Bahrain, Binance’s strategy has moved further into traditional financial infrastructure through a partnership with Bank of Bahrain and Kuwait (BBK), one of the Kingdom’s leading retail and corporate banks. Under a memorandum of understanding, BBK plans to integrate Binance Bahrain’s regulated Crypto-as-a-Service (CaaS) solution directly into its mobile banking app, subject to final approval from the Central Bank of Bahrain. The integration would allow customers to trade and manage crypto assets within their existing banking environment, alongside traditional financial products.

The partnership positions BBK as the first bank in the GCC to join the Binance Link Program and reflects a broader trend toward embedded digital-asset services within mainstream financial platforms. For regulators and policymakers, such models offer a pathway to crypto adoption that maintains oversight while expanding access through established banking channels.

Infrastructure for the Next Phase of Digital Finance

Across the MENAP region, the emphasis is on how digital assets can be integrated responsibly into national financial systems, payment networks, and institutional investment frameworks.

“The next chapter of crypto is being built on infrastructure, not speculation,” said Tarik Erk, Regional Head for MENAT and Senior Executive Officer Abu Dhabi at Binance. “In MENAP, we’re working closely with regulators, financial institutions, and partners to create a compliant, secure, and scalable digital-asset ecosystem. Our ADGM license, regulatory progress in Pakistan, and partnerships in Bahrain reflect a clear shift from standalone platforms to integrated financial infrastructure that supports long-term adoption and institutional trust.”

As the region positions itself as a global hub for digital finance, platforms that can combine scale, liquidity, regulatory credibility, and technical depth are likely to play a defining role. For Binance, the message is clear: the future of crypto in the region is being built not on trading alone, but on the infrastructure that makes digital finance sustainable.

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Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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Bitwise Files S-1 With SEC to Launch Uniswap-Focused ETF, UNI Token Slumps 16%

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Crypto asset manager Bitwise has become the first to file with the US regulator to launch an exchange-traded fund (ETF) dedicated to Uniswap.

The fund targets exposure to Uniswap (UNI), the governance token of the leading decentralized exchange protocol. The ETF filing marks one of the pivotal moments for DeFi.

“The Trust’s investment objective is to seek to provide exposure to the value of Uniswap held by the Trust, less the expenses of the Trust’s operations and other liabilities,” the Thursday filing with the US Securities and Exchange Commission (SEC) read.

Uniswap is a decentralized exchange (DEX) built on Ethereum that offers token swaps without an intermediary. The regulatory authorities are currently reviewing the Bitwise application.

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Bitwise Forms Delaware Statutory Trust for Uniswap ETF

The asset manager initially registered a Delaware statutory trust for a potential Uniswap fund on January 27, as a routine legal step that usually precedes an SEC filing.

The move positioned Bitwise to pursue a decentralized finance protocol-tied ETF to later advance to a federal filing.

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The registration follows after the SEC backed off its investigation into Uniswap Labs, the Brooklyn-based company, in February 2025. The SEC charged Uniswap for operating as an unregistered securities exchange and issuing an unregistered security.

If approved by the regulator, the Coinbase Custody Trust Company would act as the custodian for the Bitwise Uniswap ETF.

Wider Crypto Market Slump Pulls UNI Token Down by Over 16%

UNI, the native token of Uniswap, has plummeted 16.59% to $3.15 in the past 24 hours, underperforming a broader market sell-off.

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The drop is part of a severe crypto-wide correction. The total market cap fell 9.84% in 24 hours, with the Fear & Greed Index hitting “Extreme Fear” at 5.

Besides, a key driver was a massive $1.03 billion in Bitcoin long liquidations, which forced leveraged positions to unwind across the board. UNI is trading at $3.15 at press time, per CoinMarketCap data.

The post Bitwise Files S-1 With SEC to Launch Uniswap-Focused ETF, UNI Token Slumps 16% appeared first on Cryptonews.

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Bitcoin’s volatility spikes to its highest since FTX’s collapse as prices crater to nearly $60,000

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Bitcoin's volatility spikes to its highest since FTX's collapse as prices crater to nearly $60,000

Bitcoin’s Wall Street-like fear gauge has spiked to its highest level since the collapse of the FTX exchange in 2022, signaling intense market panic as prices plummeted to nearly $60,000.

Volmex’s bitcoin volatility index (BVIV), which represents the annualized expected price turbulence over four weeks, jumped to nearly 100% from 56% on Thursday.

The index serves as a crypto equivalent to Cboe’s VIX, the so-called fear/panic gauge, which indicates the 30-day implied volatility of the S&P 500 and rises during market panics as traders bid up options prices to hedge against declines in the index.

The BVIV does the same more often than not, rising during market panics as observed on Thursday.

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“A wave of panic swept through crypto markets this week, correlated to a sharp risk-off move across various asset classes. Bitcoin’s 30-day implied volatility, as measured by the BVIV Index, surged from just over 40 to 95 in a matter of days, levels not seen since the infamous collapse of FTX at the end of 2022,” Cole Kennelly, founder and CEO of Volmex Labs, told CoinDesk in a Telegram chat.

Implied volatility is influenced by demand for options, or derivative contracts that help traders make asymmetrical gains from uptrends in the underlying asset and hedge downside risks. Call options are used to bet on the upside, while put options are typically bought as insurance against price drops.

On Thursday, traders scrambled to buy Deribit-listed options, especially puts, as bitcoin’s price tanked from $70,000 to nearly $60,000. The top five most traded options of the past 24 hours are all puts at strikes ranging from $70,000 to $20,000, according to data source Deribit Metrics. The $20,000 put represents a bet that prices will fall below that level.

“Volatility markets reacted sharply to last night’s price drop. Front-end volatility surged as dealers adjusted for gamma [near-term risks]. Short-dated vols led the surge, showing higher demand for protection, while longer-dated vols lagged, keeping the volatility curve steeply inverted,” Jimmy Yang, co-founder of institutional liquidity provider Orbit Markets, told CoinDesk.

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Yang’s clients rushed to buy downside protection, fearing the price crash could devastate digital asset treasuries that bought bitcoin at higher levels. These firms could now liquidate at a loss, leading to a deeper slide in bitcoin’s price.

“With significant uncertainty still ahead — particularly around the DATs and the risk of further unwind cascades, we’ve seen a lot of client demand for downside protection,” he added.

Bitcoin’s price has bounced to over $64,000 at the time of writing, an over 5% recovery from overnight lows, according to CoinDesk data. Yang expects volatility to stabilize.

“Sentiment is deep in extreme fear, but bitcoin’s price seems to have found a base near $60K. If price action stabilizes, volatility looks stretched and could quickly pull back,” he said.

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Bitcoin Crashes to $60K as Sentiment Hits 2022 Lows

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Bitcoin Crashes to $60K as Sentiment Hits 2022 Lows

Crypto market sentiment has slumped to its lowest level in over three and a half years amid Bitcoin falling by double-digit percentage points to a low of around $60,000.

The Crypto Fear & Greed Index fell to a score of 9 out of 100 on Friday, indicating “extreme fear” in the market and hitting its lowest point since June 2022, when sentiment and the market fell in the wake of the collapse of the Terra blockchain a month earlier.

The index has been at a low for the last fortnight as Bitcoin (BTC) has tanked 38% from its 2026 high of $97,000 in just three weeks, wiping out all gains for the past sixteen months. 

The Crypto Fear & Greed Index hit a score of 9 out of 100 on Friday as Bitcoin continued to slide. Source: Alternative.me

Bitcoin falls to $60,000 on Coinbase 

Bitcoin fell to its lowest level since October 2024 at a little over $60,000 on Coinbase in early trading on Friday morning, according to TradingView.

It is currently trading at just over $64,000 after dumping 13% over the past 24 hours and losing over $10,000 in its largest daily loss since mid-2022.

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Related: Coinbase premium hits yearly low, hinting at institutional selling

Bitcoin has now collapsed below the 200-week exponential moving average, a long-term trend indicator, which has only previously happened in the depths of a bear market. It is currently 50% down from its all-time high of $126,000 in early October. 

Over the past 24 hours, more than 588,000 traders were liquidated for $2.7 billion, 85% of them were leveraged longs predominantly in Bitcoin, according to CoinGlass.

BTC falls below 200w EMA to bear market lows. Source: TradingView

Tech stock slump and Fed caution behind the crash

Jeff Ko, chief analyst at CoinEx Research, told Cointelegraph that Bitcoin’s more than 20% drawdown in a week comes alongside a selloff in US tech stocks “where stretched valuations and lingering concerns around an artificial intelligence-driven bubble have long been highlighted by the market.”

“Even Amazon suffered a double-digit decline overnight following a mixed earnings release,” he added. “Investors are increasingly reassessing Bitcoin’s failure to function as a safe haven compared to gold.”

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LVRG Research director Nick Ruck said Bitcoin’s fall and a broader market decline comes amid “heightened risk aversion” triggered by “softer US job market signals, including rising unemployment claims that raise doubts about sustained economic strength and potential Fed caution on aggressive rate cuts.”

Magazine: DAT panic dumps 73,000 ETH, India’s crypto tax stays: Asia Express