Binance Analyst Warns of Potential Bitcoin Crash to $49,000 Amid Volume Drop Concerns

Crypto analyst Melika Trader has issued a stark warning about Bitcoin’s potential price crash, suggesting a 60% drop to $49,000 if key support levels fail. The analysis highlights Binance’s critical role in this scenario, with traders closely monitoring volume trends.

Crypto Analyst Warns of Potential 60% Bitcoin Price Crash to $49,000

Crypto analyst Melika Trader has warned that a volume drop could trigger a significant 60% price crash in Bitcoin, potentially dropping its value to $49,000. In a TradingView post, the analyst detailed how BTC is hovering above a crucial support zone, which many traders recognize as the most important from a volume perspective on Binance. The chart provided showed that a drop below the former trend line at $75,000 could lead to such a steep decline. Additionally, Bitcoin has already lost critical support at around $83,000, increasing the risk of a further downturn.

Binance Founder CZ Becomes Strategic Advisor to Pakistan’s Crypto Council

Binance founder Changpeng Zhao (CZ) has been appointed as a strategic advisor to Pakistan’s Crypto Council. In this role, CZ will provide guidance to the Pakistani government and private companies on crypto regulation, infrastructure, education, and adoption. This appointment signals a notable step in Pakistan’s engagement with global crypto leadership. CZ has previously signed a memorandum with the Kyrgyz Republic to help develop its crypto ecosystem.