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Bitcoin was traded near the level of $108,700 amid global changes that affected the overall sentiment of the cryptocurrency market. The Financial Stability Board (FSB) of the G20 warned of major regulatory gaps despite the total market capitalization of the crypto sector rising to about $4 trillion within a year, while Babylon Labs announced the launch of a new trustless decentralized finance (DeFi) system related to Bitcoin on the Ethereum Blockchain.
At the same time, Zeta Network, listed on NASDAQ, raised more than $230 million through a Bitcoin (Bitcoin)-backed sale, which gave the market a boost of confidence despite the relative price stabilizing below $110,000.
The G20 Monitoring Council warns of global regulatory gaps in the cryptocurrency market
The Financial Stability Board (FSB) of the G20 has issued a warning about the continued existence of significant regulatory gaps as countries deal with cryptocurrencies, despite the market value of the sector doubling to $4 trillion over the past year. The council noted that stablecoins, whose market value currently stands at around $290 billion, are subject to comprehensive regulation in only a limited number of jurisdictions.
The Secretary-General of the council - John Schindler - emphasized the necessity of global coordination, especially with the ease of international transfers and the increasing connection of digital assets to traditional financial systems. While risks remain limited at present, the council warned of the potential for them to rise with the increasing pace of adoption.
Despite the warnings, the price of Bitcoin (Bitcoin) did not significantly change, stabilizing near $108,690, but analysts considered the council's call a positive step towards establishing clearer global standards for regulating digital assets.
Babylon Labs reveals a decentralized financing system for Bitcoin (Bitcoin) that does not require trust on the Ethereum blockchain
Babylon Labs announced the launch of a new system that allows users to borrow on the Ethereum Blockchain using Bitcoin (Bitcoin) as collateral, without the need for centralized bridges or intermediaries. This innovative mechanism relies on BitVM3 technology to secure Bitcoin (Bitcoin) in cryptographically verifiable vaults.
The VaultBTC beta version is currently being tested on the Morpho lending protocol. While the system does not require trust to a large extent, analysts note that the liquidation process still partially relies on licensed liquidators and trusted data brokers.
For their part, analysts believe that this launch will enhance efforts to integrate Bitcoin (Bitcoin) into the decentralized finance (DeFi) system, affirming that expanding its role beyond payment and storage could support long-term demand. Indeed, Bitcoin (Bitcoin) maintained its stability near $108,690 following the announcement.
Zeta Network raises $230 million in a private offering backed by Bitcoin (Bitcoin)
Zeta Network, listed on NASDAQ, raised approximately $230.8 million through a private share sale, accepting payment in Bitcoin (Bitcoin) and SolvBTC, a digitally represented version of Bitcoin on the 'Solv' protocol. The company did not stop there but issued new shares and call options, adding Bitcoin (Bitcoin)-linked assets to its treasury, confirming its belief in its long-term value and scarcity.
In this regard, the CEO of the Solv protocol, Ryan Chow, stated that many public companies have begun adopting innovative solutions to hold Bitcoin (Bitcoin) in line with the growing demand for yield products backed by Bitcoin (Bitcoin), such as Coinbase's Bitcoin Yield Fund and BlackRock's proposed income fund.
This funding backed by Bitcoin (Bitcoin) has contributed to an improved overall market sentiment, as the currency continued to trade near the $108,700 level with increasing investor conviction that institutional adoption is accelerating.
Bitcoin (Bitcoin) Price Forecast: A downward channel indicates a possible retreat towards $103,500
The price of the Bitcoin/US Dollar (BTC/USD) pair continues to move within a limited range below the $110,000 level, facing difficulties in regaining upward momentum after several failed attempts to break above the $109,600 level. The chart shows a potential formation of a triple bottom pattern, but the continued rejection near $110,500 and the breakout of the 'descending triangle' pattern highlight the weakness of buyer momentum.
As the downward crossover between the exponential moving averages for 20 and 50 periods continues to indicate selling pressure, suggesting a risk of decline, while the Relative Strength Index (RSI) remains at 42 indicating a lack of buying strength. The price action shows lower highs than previous ones, without the appearance of a bullish engulfing candle to confirm a trend reversal.
If the price of Bitcoin fails to break above $110,500, a retreat towards $107,300 becomes likely, followed by deeper support levels at $105,200 and $103,500, which are historical entry points for buyers.
Currently, Bitcoin (Bitcoin) continues to trade without the descending triangle pattern, and TradingView forecasts indicate a likelihood of re-testing current levels. Once the price closes decisively above $112,700, the bearish outlook will change completely, opening the door for the next resistance levels at $114,600 and $117,600.
Conversely, traders may turn to speculating on declines below $109,500, targeting the $107,300 level, while preferring to enter bullish speculative trades after surpassing $112,700. Despite the current weakness, analysts remain optimistic that the upward trend of Bitcoin (Bitcoin) will persist, with a strong recovery expected in the fourth quarter of 2025 after the relative stabilization phase ends.
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