At the time of writing, Bitcoin is trading at around $102,572, suggesting a 3.04% decline in the last 24 hours. The decline extends weekly losses to 8% and monthly losses to 17%, marking a significant retreat from the cryptocurrency's recent all-time highs.BTC Price, Source: CoinMarketCapThe pullback follows a sustained sell-off by long-term holders who have liquidated over 400,000 BTC worth approximately $42.3 billion in the past month. Market analysts view this distribution phase as a critical test of Bitcoin's ability to maintain support above six figures.Long-Term Holders Distribute $42 Billion Worth of BitcoinLong-term holders, defined as entities that have held coins for at least six months without selling, began offloading their positions after Bitcoin reached new all-time highs above $126,000 in early October. CryptoQuant analyst Maartunn identified a net decrease of 405,000 BTC on a rolling 30-day basis.Source: CryptoQuantThis represents nearly 2% of Bitcoin's total supply entering the market. Crypto market commentator TFTC noted that despite this substantial distribution, Bitcoin remains above the psychologically significant $100,000 level. TFTC founder Marty Bent emphasized the market's resilience, stating that absorbing this sell pressure without a 30%-50% decline signals underlying strength.Short-term holders also contributed to the selling pressure. These investors, often characterized as ”weak hands,” have sent over 26,800 BTC, valued at roughly $3 billion, to exchanges at a loss over the past three days. This behavior reflects a typical pattern in which short-term holders panic during price dips and incur losses. Data suggests these holders face growing unrealized losses and may continue selling if prices decline further.BTC: Short Term Holder Capitulation, Source: XTechnical Indicators Point to Further Downside RiskBitcoin's weekly chart reveals a falling wedge pattern after the price lost support at $114,550. The cryptocurrency now tests the 50-week simple moving average at $103,300, a critical support level that bulls are defending.Additional support zones include the $100,000 psychological threshold and the 100-week simple moving average at $82,000. A weekly close below these levels could trigger further declines toward the wedge target of $72,000, representing a 30% drop from current prices.BTC/USD weekly price chart. Source: TradingviewThe relative strength index shows a concerning bearish divergence. Between mid-July and early October, Bitcoin's price formed higher lows, while the weekly RSI declined from 70 to 45, resulting in lower lows. This divergence typically signals weakness in an uptrend as buyer exhaustion sets in and profit-taking accelerates.At the time of writing, Bitcoin is trading at around $102,572, suggesting a 3.04% decline in the last 24 hours. The decline extends weekly losses to 8% and monthly losses to 17%, marking a significant retreat from the cryptocurrency's recent all-time highs.BTC Price, Source: CoinMarketCapThe pullback follows a sustained sell-off by long-term holders who have liquidated over 400,000 BTC worth approximately $42.3 billion in the past month. Market analysts view this distribution phase as a critical test of Bitcoin's ability to maintain support above six figures.Long-Term Holders Distribute $42 Billion Worth of BitcoinLong-term holders, defined as entities that have held coins for at least six months without selling, began offloading their positions after Bitcoin reached new all-time highs above $126,000 in early October. CryptoQuant analyst Maartunn identified a net decrease of 405,000 BTC on a rolling 30-day basis.Source: CryptoQuantThis represents nearly 2% of Bitcoin's total supply entering the market. Crypto market commentator TFTC noted that despite this substantial distribution, Bitcoin remains above the psychologically significant $100,000 level. TFTC founder Marty Bent emphasized the market's resilience, stating that absorbing this sell pressure without a 30%-50% decline signals underlying strength.Short-term holders also contributed to the selling pressure. These investors, often characterized as ”weak hands,” have sent over 26,800 BTC, valued at roughly $3 billion, to exchanges at a loss over the past three days. This behavior reflects a typical pattern in which short-term holders panic during price dips and incur losses. Data suggests these holders face growing unrealized losses and may continue selling if prices decline further.BTC: Short Term Holder Capitulation, Source: XTechnical Indicators Point to Further Downside RiskBitcoin's weekly chart reveals a falling wedge pattern after the price lost support at $114,550. The cryptocurrency now tests the 50-week simple moving average at $103,300, a critical support level that bulls are defending.Additional support zones include the $100,000 psychological threshold and the 100-week simple moving average at $82,000. A weekly close below these levels could trigger further declines toward the wedge target of $72,000, representing a 30% drop from current prices.BTC/USD weekly price chart. Source: TradingviewThe relative strength index shows a concerning bearish divergence. Between mid-July and early October, Bitcoin's price formed higher lows, while the weekly RSI declined from 70 to 45, resulting in lower lows. This divergence typically signals weakness in an uptrend as buyer exhaustion sets in and profit-taking accelerates.

        Highlights:  Pakistan is considering a digital rupee and CBDC to cut remittance costs. The crypto market in Pakistan could unlock $25B in new economic growth. The CBDC pilot phase is in development with World Bank and IMF support.  Pakistan is moving forward with plans to integrate blockchain technology into its financial system. The nation is considering introducing a rupee-backed stablecoin and central bank digital currency (CBDC). The objectives of these efforts are to reduce remittance costs, modernize access to finances, and promote economic growth. At the Sustainable Development Policy Institute (SDPI) Conference, leading financial authorities outlined the massive growth potential of crypto. They estimate Pakistanis holding up to $30 billion in crypto holdings. The annual crypto trading might soon reach $300 billion, which is nearly equivalent to the total GDP of the country. Zafar Masud, the president of the Pakistan Banks Association, pointed out the booming global stablecoin market. According to him, the nation is capable of exploiting $20-25 billion in the adoption of digital assets. He confirmed that Pakistan is “actively exploring a rupee-backed stablecoin” to increase access and efficiency. A digital rupee would enhance secure cross-border payment and financial inclusion. More than 100 million Pakistani adults are still unbanked, and the innovation is a pressing case.  Pakistan Considers Rupee-Backed Stablecoin Amid $25B Loss Warnings  Pakistani regulators are actively exploring the development of a sovereign-backed digital currency amid growing recognition of the transformative potential of cryptocurrencies and bloc…https://t.co/CVr2s8UeoU pic.twitter.com/Fma8WTIGP3 — Crypto Breaking News (@CryptoBreakNews) November 8, 2025  CBDC Prototype Underway The State Bank of Pakistan is proceeding with the development of its digital currency. Faisal Mazhar, the Deputy Director of Payments, revealed that a prototype of CBDC is underway. Additionally, the World Bank and International Monetary Fund are assisting this initiative. He further added that there would be a pilot phase before the full rollout of the currency. The CBDC is expected to make remittances cheaper and financial services more accessible across the country. According to the global specialist Yara Wu, such technology would make remittances faster, secure, and cheaper. Sajid Amin of SDPI emphasized the necessity of having proper regulation. He noted the relevance of cybersecurity, digital literacy, and risk management to safeguard consumers and investors. Fintech Innovation Fuels Growth The fintech industry in Pakistan is also on the rise. ZAR, a start-up that provides dollar-backed stablecoins, recently raised $12.9 million. Top investors, such as Andreessen Horowitz, Coinbase Ventures, and Dragonfly Capital, were the source of funding.  ZAR has raised $12.9 million to bring ROCK. SOLID. DOLLARS. to the Global South  Led by @a16zcrypto, with @dragonfly_xyz, @vaneck_us, @cbVentures, and Endeavor Catalyst.  pic.twitter.com/0DKOlWMwSO — ZAR (@zardotapp) October 28, 2025  ZAR is dedicated to making stablecoins accessible to underserved populations in Pakistan. Their mission focuses on bridging the financial gap in emerging markets. Moreover, the firm is seeking to assist millions of people who have yet to access traditional banking services. In addition, this move matches government-led digital finance initiatives. The increased adoption is a positive sign of increasing cryptocurrency interest in Pakistan. Pakistan moved to the third position globally in the 2025 Global Crypto Adoption Index by Chainalysis. To build further on this momentum, Pakistan established a regulatory framework regarding virtual asset services. Licensing and supervision are being managed by the Pakistan Virtual Asset Regulatory Authority (PVARA). Firms have to comply with stringent compliance criteria under the Virtual Assets Ordinance 2025. These include the anti-money laundering (AML), know-your-customer (KYC), and counter-terrorism financing measures. This goal is to create a regulated, safe digital economy. Furthermore, PVARA also encouraged international crypto exchanges and service providers to apply for licenses in September.    eToro Platform    Best Crypto Exchange   Over 90 top cryptos to trade Regulated by top-tier entities User-friendly trading app 30+ million users    9.9   Visit eToro eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.