The Rupee on Thursday remained unchanged against the US Dollar in the interbank trading and closed at Rs 284.96. However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs288.30 and Rs288.60, respectively. The price of the Euro decreased by Rs 0.78 to close at Rs 330.33 against the last day’s closing of Rs 331.11, according to the State Bank of Pakistan (SBP). The Japanese yen remained stagnant and closed at Rs 1.91, whereas a decline of Rs 0.38 was witnessed in the exchange rate of the British Pound, which was traded at Rs 381.39 compared to the previous day’s closing of Rs 381.77.
AKD Group Holdings acquires key stake in Pearl Continental Hotels chain – Daily Times
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Security Leasing Corporation says progressing towards revival – Daily Times
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Bitcoin holds steady with 1.3% daily gains while technical indicators suggest range-bound trading before potential breakout to $135,000
Written by:
Arslan Butt
• Friday, July 18, 2025 • 3 min read
Last updated: Friday, July 18, 2025
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Quick overview
Bitcoin is currently consolidating above the $120,000 mark, gaining 1.3% in the last 24 hours.
Technical analysis suggests a range-bound trading phase, with key support at $110,530 and resistance between $120,000 and $123,218.
Institutional interest remains strong, with significant inflows into Bitcoin ETFs and a notable increase in first-time buyers.
Experts believe this consolidation could set the stage for a future price surge, potentially reaching targets of $135,000 to $150,000.
Bitcoin BTC/USD is still holding strong above the important $120,000 milestone, and in the last 24 hours it has gained 1.3%. As bears maintain the $120,000 barrier zone, the world’s largest cryptocurrency by market cap seems to be entering a consolidation phase. Analysts think this might be a strategic accumulation time before the next big rise.
Bitcoin price analysis
BTC/USD Technical Analysis Points to Range-Bound Trading
The daily chart tells us a lot about how the Bitcoin market is doing right now. There has been selling pressure every time the price tries to break above $120,000, as shown by the lengthy wicks on recent candlesticks. The fact that this level keeps getting rejected shows that bears are actively protecting it.
Technical indications are showing that there may be some sideways movement in the near future. The 20-day exponential moving average (EMA) is at $113,528, which is a strong level of support for any retreat that might happen. The 20-EMA has flattened out on the four-hour period, and the Relative Strength Index (RSI) is slightly above the midpoint, both of which suggest that a range may be forming.
For a long time, analysts think Bitcoin will trade in a range between $115,000 and $123,218. This consolidation phase could be good for the long-term direction of the market because it gives it time to absorb recent gains and set the stage for the next leg up.
Price Targets and Critical Support Levels
If bulls can break through the $120,000 to $123,218 resistance zone, Bitcoin might start its next big surge toward $135,729, with a final pattern objective of $150,000. To reach these high goals, there needs to be steady buying pressure and successful defense of important support levels.
At $110,530, the most important support level is the current bull run’s make-or-break point. If the price drops below this level, it might lead to a bigger pullback toward $105,000, which could change the short-term optimistic picture.
Traders are looking for a break above $120,064 to confirm that the market is going up right away. This would likely lead to a retest of the all-time high of $123,218.
BTC/USD
Institutional Momentum Drives Market Confidence
The basic factors that sustain Bitcoin’s price movement are still strong. On Wednesday alone, US-based Bitcoin exchange-traded funds saw an amazing $799.4 million in inflows, making it the 10th day in a row that institutions have bought them. Investors have put more than $5.2 billion into BTC ETFs since July 2, showing that institutions are still interested.
Digital asset investment products recently saw their second-largest weekly inflow of $3.7 billion. This brought the total amount of assets under managed to an all-time high of $211 billion. Bitcoin-backed products make up 85% of the global crypto investment product industry, or $179.5 billion.
Fresh Capital Indicates Renewed FOMO
On-chain data shows that a lot of new money is coming in, with first-time Bitcoin buyers getting over 140,000 BTC in just two weeks. This means that their holdings went up by 2.86%, from 4.77 million to 4.91 million BTC. This new demand looks like “FOMO” (fear of missing out) behavior is back, which is good for Bitcoin’s latest breakout.
Mid-Cycle Adoption Signals Long-Term Potential
Jurrien Timmer, Fidelity’s Director of Global Macro, said that Bitcoin is still in the middle of its acceptance curve, which is similar to how the internet grew in the past. Timmer’s analysis shows that the current price action is not for an asset class that is already full, but for one that is growing. The far high end of the Bitcoin model implies that prices might reach $200,000 to $300,000.
The number of firms that use BTC is still growing quickly. In the second quarter, 46 public companies added BTC to their balance sheets, bringing the total to 125 companies that hold 847,000 BTC valued almost $91 billion.
Bitcoin Price Prediction: Patience Before the Next Rally
Bitcoin’s short-term future may include trading in a range, but the underlying fundamentals show that this consolidation phase is good for long-term growth. The next big price movement is likely to happen because of a steady influx of money from institutions, new interest from retail investors, and more companies using the currency.
Traders need to keep a careful eye on the $110,530 support level because protecting it will be important for keeping the bullish structure in place. If the price breaks over $120,000, it might swiftly go toward the $135,000 target. However, if it can’t hold critical support levels, it may need to make a bigger drop before trying to reach new highs again.
Arslan Butt
Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.
His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.
His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
Output of LCVs, vans and jeeps increases 74.60% in FY 2025 – Daily Times
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TOKYO, Japan, July 18, 2025 – Honda will exhibit Honda Koraidon, a future mobility concept, at the 2025 FIM*1 Endurance World Championship “Coca-Cola” Suzuka 8 Hours Endurance Road Race 46th Event*2, to be held from Friday, August 1 to Sunday, August 3 at Suzuka Circuit (Mie Prefecture). On August 1 (Fri) and 2 (Sat), Honda Koraidon will be exhibited at the Honda Racing Gallery (HRG) within the circuit grounds. On August 3 (Sun), Honda Koraidon will make its debut on-road appearance, showcasing its “Sprinting Build” during the pre-race ceremony for the Suzuka 8 Hours race.
ISLAMABAD — Members of an influential Pakistani Senate committee are calling for all debit cards in the country to be issued under the nation’s domestic payment scheme, potentially threatening international peers such as Visa and Mastercard in a key South Asian market.
The Senate Standing Committee on Finance and Revenue last week urged the country’s central bank to mandate the use of PayPak for all local debit and credit cards.
The International Monetary Fund has rejected Pakistan’s proposal to impose 1% water storage cess on goods to build mega dams and instead suggested to increase the 18% standard sales tax rate for funding any enlarged size of the federal development programme.
The development came amid an anticipated revision in the cost of the Diamer-Basha dam and needing funds to build a new Chenab dam over the Chenab river, which will require at least additional Rs800 billion, according to the government sources.
Official sources said that the global lender did not endorse the proposal to impose water storage cess, which the government wanted to introduce on every taxable product produced in the country, except electrical energy and medicines. The cess has been proposed to fund two mega water storage dams and build a new one as a solution to deal with Indian water aggression.
The development pushes the government in a tight spot, which was willing to increase the tax burden but only in a fashion that would ensure that 100% of the collection stays in the federal kitty instead of being shared with provinces.
In case of cess, the government will have the full right on the collection while sales tax would become part of the federal divisible pool.
The government had sought the IMF’s permission to impose the new tax after majority of the provincial governments showed reluctance to finance the early completion of the Diamer-Bhasha dam and the Mohmand Dam. The government had proposed that the provinces should pick half of the Rs716 billion cost of the Benazir Income Support Programme and the Rs358 billion fiscal space will be used to build dams at a faster pace to deal with Indian aggression. The provinces refused.
The spokesman of Ministry of Finance Qumar Abbasi did not comment on the development.
The sources said that the IMF has many objections to the water storage cess proposal, including the legal and governance challenges. They added the Fund was of the view that any special levy reduces the flexibility in the budget and the sales tax can give such flexibility.
Moreover, the IMF was not comfortable with the idea of giving the control of the new cess to the Water and Power Development Authority (Wapda), they added.
The IMF had earlier asked the government to fund these dams from the Rs1 trillion worth Public Sector Development Programme (PSDP). But the government was not inclined to get more money from the PSDP, which this year was focusing more on the needs of the coalition partners than having mega strategic projects as national priority.
The sources said that the IMF informed Pakistan that if it wanted to get more money for development spending then it can consider increasing the rate of sales tax.
The standard sales tax rate is 18% while the government also charges 3% extra sales tax rate in case a good is sold to an unregistered person.
The government’s earlier decision to increase the petroleum levy rate to give electricity subsidy and fund a road in Balochistan has led to abnormal increase in prices of diesel and petrol since July 1st.
The landed cost of diesel is Rs177.89 per liter and petrol’s Rs168.73 per liter, excluding all types of margins, rupee depreciation impact and taxes. However, after adding these additional costs, the high-speed diesel price is set at Rs284.35 and petrol at Rs272.15 per liter.
Seven years ago, the government had approved the Diamer-Bhasha dam at a cost Rs479 billion and Mohmand at Rs310 billion. The sources said that the revised estimates suggest that the Diamer Basha dam cost may skyrocket to over Rs1.1 trillion, an addition of around Rs620 billion. The exact cost will be determined when the Planning Ministry receives the revised documents.
Even against the original Rs479 billion cost, the government needed Rs365 billion more to complete the work. For this fiscal year, only Rs25 billion has been allocated for the Diamer Basha dam, which is even less than last fiscal year.
Likewise, the Mohmand dam was approved at a cost of Rs310 billion seven years ago and it still requires a minimum of Rs173 billion more at the old price. Only Rs35.7 billion has been allocated for the new fiscal year.
Likewise, the government is planning to build a dam on the Chenab river with a cost of about Rs220 billion. This requires an additional Rs800 billion for Chenab dam and Diamer-Basha dam. After adding up the remaining financing requirements, the government needs a total Rs1.35 trillion for just these three dams.
India has threatened to cut water supplies after it held the Indus Waters Treaty (IWT) in abeyance in violation of the treaty provisions and in the breach of the international law. Islamabad has plainly told India that any such act would be considered as an act of war.
For this fiscal year, the government has reduced the water sector development budget by 28% to Rs133 billion. Now it wants to offset this by introducing a new tax.
One of the options is that instead of levying a new 1% cess or increasing GST rate, the government should amend the GIDC law and divert the already collected much over Rs400 billion money towards building dams.
The Ministry of Water Resources has informed the government that it would take 15 years to complete the Mohmand dam and over 20 years to finish work on the Diamer-Bhasha dam at the current pace of the budget allocations.
Ahsan Iqbal, the federal minister for Planning and Development has already ruled out creating any further space in the PSDP to fund the large projects.
The government has held meetings this week in the Planning Ministry and the Prime Minister’s Office to finalize a strategy for funding other projects, which can be completed and to be inaugurated by Prime Minister Shehbaz Sharif this year.
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