The crypto market experienced significant volatility on November 17th, with Bitcoin’s price falling below $94K for the first time since May. This drop, driven by mounting retail fear and analyst warnings of potential further declines to $83.5K, has sparked debate about the future of the leading cryptocurrency. While some experts like Arca CIO Jeff Dorman are dismissing claims of forced Bitcoin sales, highlighting robust balance sheets and cash flow despite prominent investor Peter Schiff’s bankruptcy warnings, others remain wary. Meanwhile, Hong Kong’s HKMA is advancing its ambitions for a crypto hub by launching Project Ensemble to test real-value tokenized deposit transactions through 2026. In the traditional financial space, Alibaba will leverage JPMorgan’s blockchain technology for cross-border payments using tokenized USD and EUR on its B2B platform. This innovation aims to expedite transactions and cut down on intermediaries. BlackRock’s $2.5 billion BUIDL tokenized fund has also secured off-exchange collateral on Binance and expanded to the BNB Chain, enhancing institutional trading and DeFi utility.