This week saw significant developments in the cryptocurrency market with BNB outperforming major Layer 1 chains. The sector experienced $6.4 billion in outflows over the past five weeks, signaling investor caution. Bitcoin remains in a narrow trading channel, poised for a significant movement, while maintaining a 'super trend' signal above $74,500. Noteworthy events include a $400 million whale short remaining profitable following a failed liquidation attempt and a revelation that North Korea now holds $1.4 billion in Bitcoin. In operational news, OKX has halted its DEX services after the Bybit hack, while Solana futures are set to launch on the CME amidst declining DEX volumes. Other highlights include Goldman Sachs recognizing crypto as a competitive sector, the South Korean central bank rejecting Bitcoin as a reserve asset, and Ethereum shorts reaching all-time highs. Additional insight from the cryptocurrency market anticipates further volatility and institutional engagement as the landscape evolves.

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