Bitcoin is making headlines in Pakistan as its price climbs to PKR 25,828,751.86 per coin, reflecting a renewed sense of optimism in the global crypto market. This surge comes amid a modest rebound in digital assets worldwide, with the total cryptocurrency market capitalization rising by 2.08% to $3.22 trillion and daily trading volumes increasing by 2.21% to $96.3 billion .
Global Market Context
Internationally, Bitcoin is trading at $98,095.43, up 1.22% in the last 24 hours. Its market capitalization now stands at $1.94 trillion, underscoring its dominant position in the digital asset space. Trading activity has also intensified, with $36.17 billion worth of BTC exchanged globally in the past day—a 10.64% increase .
Despite these gains, the market remains cautious. The Crypto Fear & Greed Index currently sits at 37, indicating that investor sentiment is still marked by fear, likely due to recent price volatility and uncertainty about future trends .
Bitcoin in Pakistan: Local Trends and Volatility
In Pakistan, Bitcoin’s price closely tracks global movements but is also influenced by local factors such as currency exchange rates and regulatory developments. The current price of PKR 25.8 million per BTC highlights stable demand, even as the country navigates regulatory ambiguity and fluctuating exchange rates .
The total market capitalization of Bitcoin in Pakistan now exceeds PKR 513.59 trillion, with a circulating supply of 19,823,671 BTC. Trading activity has surged, with the value of BTC traded in the last 24 hours rising by PKR 1.69 trillion—a 13.05% increase from the previous period. The previous day saw PKR 12.96 trillion worth of BTC exchanged, reflecting growing participation from both retail and institutional investors .
Risks and Market Outlook
While the current rally has sparked optimism, analysts warn that the momentum could be fragile. If Bitcoin fails to maintain its crucial $93,000 support level, the market could see liquidations of over $1.3 billion in leveraged long positions, potentially triggering a broader pullback . Support levels are seen as psychological thresholds; a break below could erode confidence and lead to rapid sell-offs.
Why Are Pakistanis Turning to Bitcoin?
Several factors are driving increased interest in Bitcoin among Pakistani investors:
• Anticipation of more crypto-friendly regulations
• Disappointing performance of traditional assets like gold and stocks
• Hopes for better returns and long-term value preservation
Despite regulatory uncertainty, the appetite for digital assets remains strong, with many viewing Bitcoin as a hedge against local currency devaluation and economic instability .
Conclusion: A Market at a Crossroads
Bitcoin’s recent surge in Pakistan mirrors global trends but comes with its own set of risks and opportunities. As prices hover near PKR 25.8 million and trading volumes rise, the market appears cautiously optimistic. However, the threat of a breakdown below key support levels means that volatility is likely to persist.
For investors, staying informed and managing risk is crucial in navigating this dynamic and unpredictable market.
