Bitcoin price continues to move near $108,850 with limited downward bias despite improving market sentiment and the emergence of new developments in the political and industry arena. In Germany, the Alternative for Germany (AfD) party presented a proposal to classify Bitcoin as a strategic national asset, while mining company TeraWulf announced a massive $500 million in funding to boost its expansion into the artificial intelligence sector, and Binance revealed a new partnership to improve transparency with Bubblemaps.
On the monetary front, the reduction in US interest rates to 4% has triggered a state of short-term volatility in the market, as investors await the support zone at $108,900 as the decisive level for Bitcoin’s next price direction.
German opposition demands that Bitcoin be included among national strategic assets
The Alternative for Germany (AfD) party, the country’s largest opposition force, has submitted a proposal calling for Bitcoin to be considered a strategic national asset and for the currency to be excluded from the European Digital Asset Market (MiCA) regulatory framework.
The party believes that excessive regulation could stifle innovation and weaken Germany’s leading position in the digital economy, highlighting the need to maintain value-added tax exemptions and ensure the right of individuals to self-custody their digital assets, in addition to maintaining the 12-month tax exemption on Bitcoin profits, a provision that provides an important benefit to long-term investors.
AfD representatives also called for Bitcoin to be included in Germany’s national reserves, similar to the gold reserves held by central banks. This proposal recalls ongoing discussions in France on adopting more favorable policies for digital currencies in order to attract investments and consolidate Europe’s position in the blockchain sector.
Investors saw the move as a positive sign of the growing political acceptance of Bitcoin on the European continent, which supported a slight price rise amid expectations that institutional recognition could be accelerated if the proposal receives support in German political circles.
TeraWulf Moves From Bitcoin Mining To Artificial Intelligence With $500M Funding
Bitcoin mining company TeraWulf plans to raise $500 million through a convertible bond offering to build a new data center dedicated to artificial intelligence in Abernathy, Texas. These bonds are scheduled to mature in 2032, with the possibility of increasing their value by an additional $75 million depending on the scale of investment demand.
Proceeds will be intended to support the company’s strategic shift from Bitcoin mining to the development of AI infrastructure, leveraging its existing energy and hardware assets to meet the growing demand for GPU-based computing.
The move comes after previous funding rounds that included a $3 billion deal with Morgan Stanley, a $1.4 billion guarantee from Google, as well as a $3.7 billion hosting deal with Google-backed Fluidstack. Investors view this move as a strategic diversification step that improves the long-term stability of digital currency mining companies amid changing market conditions.
In turn, the price of Bitcoin rose slightly following the announcement, with traders viewing TeraWulf’s move toward artificial intelligence as a positive sign of the industry’s ability to adapt and evolve.
Binance and Bubblemaps team up to improve transparency and combat insider trading
Binance has partnered with blockchain analytics firm Bubblemaps to improve market transparency and detect suspicious transactions and insider trading. Through this collaboration, users of the Binance Web3 wallet will be able to see the distribution of digital currencies and identify connections between potentially tampered wallets, thanks to the interactive Bubblemaps interface which displays data in the form of interconnected bubbles.
Bubblemaps is best known for its role in exposing the $30 million Melania-MELANIA official currency scandal, as its analytical tools helped track market activity and uncover insider manipulation.
The partnership aims to make cryptocurrency trading safer and more transparent by giving investors a clearer view of currency ownership patterns, and market participants have welcomed the move as a sign of greater accountability within the industry.
Bitcoin Price Technical Analysis: Bulls Defend $108,900 Level as RSI Enters Oversold Zone
Technical forecasts indicate a bearish trend in Bitcoin price, as it is currently trading near $108,850, maintaining its position above the main support level at $108,900, corresponding to the 23.6% Fibonacci retracement level. This level has been an area of strong demand in recent weeks.
The price action shows the formation of a double top pattern near $117,700 followed by a correction, while the bulls are currently defending the lower boundary of the ascending channel that has been extending since early October.
The presence of several candles with long lower tails on the 4-hour chart indicates strong buying on the dip, despite the stability of the EMA measured over the range of the last 50 trading bars, and the relative strength index (RSI) at 31 indicates an oversold situation which is often a precursor to a possible technical rebound.
Any daily close above $110,700 could trigger a fresh wave of recovery towards $112,200-$114,950, while a breakout of $108,900 could pave the way to $106,100-$103,500. Traders tend to open trades above $109,000 with a target of $114,950 as oversold momentum indicates a possible upside rebound heading into November.
Bitcoin Hyper-HYPER IPO Delivers the Next Evolution of Bitcoin on the Solana Blockchain
Bitcoin Hyper launches a new phase of the Bitcoin technical system. Although the Bitcoin blockchain remains the benchmark for security, Bitcoin Hyper’s solution offers what it has always lacked: the superior speed of the Solana blockchain.
As the first layer two solution for the Bitcoin blockchain, Bitcoin Hyper leverages the Solana Virtual Machine (SVM) to combine the security and stability of the Bitcoin blockchain with the speeds of the Solana blockchain, enabling its new network to deliver ultra-fast speeds, low-cost smart contracts, decentralized applications (dApps), and meme development, all protected by the security of the Bitcoin blockchain.
The coin’s smart contract, designed to combine scalability, simplicity and reliability, was also successfully reviewed by the Coinsult team, and the project is seeing growing interest from investors whose subscriptions to date exceed $25.2 million, with the coin currently selling at $0.013195 before the next increase.
With increasing activity on the Bitcoin blockchain and growing demand for its efficient decentralized applications, the Bitcoin Hyper project is emerging as a tool to connect two of the largest technical systems in the industry. If the Bitcoin project is the cornerstone, Bitcoin Hyper will improve it and make it faster, stronger and more fun again.
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The article Bitcoin (Bitcoin-BTC) Price Expectations: Maintaining the $108,000 Level After Federal Reserve Cut Interest Rates and Subsequent Strong Market Swings appeared first on Cryptonews Arabic.
