#FranceBTCReserveBill

Market Snapshot

Bitcoin (BTC) is priced around $112,678, down 1.22% in 24 hours, with a trading volume of $63.9 billion. The Fear & Greed Index is at 39, indicating "Fear."

BTC's market cap is approximately $2.24 trillion, maintaining a 59.34% market dominance. The price is currently consolidating below the $115,500 resistance level.

France's Proposed Bitcoin Reserve

A bill in the French Parliament proposes acquiring 420,000 BTC (around 2% of total supply) over 7-8 years for a national strategic reserve. This is viewed as a long-term bullish catalyst.

However, the bill's passage is considered highly unlikely as the proposing UDR party holds only 16 of 577 parliamentary seats, lacking sufficient political support.

The market is also watching for the U.S. Federal Reserve's interest rate decision, which is contributing to overall volatility.

Technical Outlook and Risks

Key resistance for BTC is at the $115,500-$116,000 range, with support levels near $109,600 and $107,000.

The Relative Strength Index (RSI) is neutral at 50.97, but the MACD indicator suggests a short-term sell signal, pointing to potential consolidation.

A primary risk is that market excitement over the French bill could fade due to its low probability of passing. High market volatility is also a concern, with over $540 million in futures liquidated in the last 24 hours.