🔻💰 Bitcoin Slips After Record High | 🇨🇳 China Merchants Bank Launches Hong Kong Crypto Exchange

Market Update — August 20, 2025

Bitcoin ($BTC ) has seen a sharp pullback after hitting a fresh record high earlier this week. The world’s largest cryptocurrency is now facing selling pressure, with traders locking in profits after months of upward momentum.

Meanwhile, China Merchants Bank International (CMBI) made headlines by officially opening its Hong Kong-based crypto exchange, a major step signaling traditional financial institutions’ deeper involvement in digital assets.

📉 BTC’s Retreat:

$BTC retraced from its peak, testing short-term support levels.

Analysts suggest the pullback could be healthy consolidation after the surge.

🏦 CMBI’s Crypto Exchange Move:

First major Chinese state-linked bank to step into Hong Kong’s crypto scene.

Aimed at institutional investors, offering spot trading and custody services.

Seen as a signal of Hong Kong’s growing ambition to become a crypto hub in Asia.

⚡ What This Means:

While Bitcoin cools off, the entry of major financial players like China Merchants Bank into the digital asset sector adds long-term confidence to the market. Traders are watching closely to see whether $BTC stabilizes before another breakout.