Meanwhile, as buyers of Bitcoin and Ethereum are reluctant to act further, having paused purchases around annual highs, the State Bank of Pakistan has taken a historic step, for the first time since 2018, allowing commercial banks to interact with cryptocurrency companies.

This resolution opens the door for banks to open accounts for crypto firms, but only after thorough verification and confirmation of their licenses. The move is seen as a significant impulse toward legalization of the crypto market in Pakistan, although it imposes certain restrictions. Despite the easing of regulatory barriers, banks remain categorically prohibited from investing in cryptocurrencies or holding them on their balance sheets. This means that, although cooperation with crypto businesses has become possible, direct involvement in owning crypto assets remains off limits.

The decision by the State Bank of Pakistan is, without question, a key moment for the development of the cryptocurrency industry in the country. Enabling banks to service licensed crypto firms creates the necessary infrastructure for their legitimate activity. This will not only simplify operational processes for the companies themselves, but will also increase trust among clients, who will now be able to conduct transactions through more regulated and secure channels. In turn, this may attract more domestic and foreign investment into Pakistan's crypto sector.

Against this backdrop, rumors have emerged about Pakistan potentially creating a strategic Bitcoin reserve. If these rumors are confirmed, this could indicate far deeper government intentions regarding digital assets, going beyond simple cooperation between banks and licensed crypto companies. This could potentially signal a desire by the country to integrate Bitcoin into its financial strategies at a higher level.

Such a strategy, if implemented, could substantially raise Pakistan's standing in the eyes of the international community, demonstrating a readiness for innovation and integration of new technologies. It would be a signal to other countries that are still considering digital asset regulation, showing that bold steps can be justified.

Trading recommendations:

Regarding Bitcoin's technical picture, buyers are currently targeting a return to $76,600, which opens a direct road to $78,400, and from there $80,100 is within reach. The most distant target is the high near $83,100, a breach of which would signal attempts to restore the bull market. In the event of a Bitcoin decline, I expect buyers at $74,600. A return of the instrument below that area could quickly push BTC toward $73,000. The furthest downside target would be the $71,400 area.

Regarding Ethereum's technical picture, a clear consolidation above $2,410 opens a direct road to $2,499. The most distant target is the high near $2,585, a breach of which would indicate strengthening bullish sentiment and a return of buyer interest. In the event of an Ether decline, I expect buyers at $2,308. A return of the instrument below that area could quickly push ETH toward $2,244. The furthest downside target would be the $2,162 area.

What we see on the chart:

- Red lines indicate support and resistance levels where either a price slowdown or active growth is expected;

- Green lines indicate the 50-day moving average;

- Blue lines indicate the 100-day moving average;

- Light green lines indicate the 200-day moving average.

A crossover, or a price test of moving averages, typically either halts the move or sparks fresh market momentum.