Crypto News Today: France’s Bitcoin Reserve Bill Lifts BTC Above $116K

Key TakeawaysBitcoin price hovers above $115,000, holding gains despite volatile ETF inflows/outflowsFrance’s BTC Reserve Bill proposes buying 420,000 BTC by 2033, anchoring long-term demandWhale accumulation hits record levels as large wallets absorb liquidity near $112K–$116K.Bitcoin Holds $114K as France’s BTC Reserve Plan Sparks Institutional OptimismBitcoin (BTC) traded around $114,000 on Tuesday, showing resilience despite recent market fragility and mixed ETF demand. The move follows growing excitement over France’s proposed Bitcoin Reserve Bill, a plan that could see the country purchase 420,000 BTC (about 2% of total supply) by 2033.Analysts view this initiative as a potential long-term demand anchor, counterbalancing near-term volatility from ETF outflows and macroeconomic uncertainty ahead of the U.S. Federal Reserve’s October 29 rate decision.France’s Bitcoin Reserve Bill: A Strategic Bullish CatalystFrance’s proposed BTC Reserve Bill aims to diversify national reserves by acquiring 420K BTC through a mix of mining operations and direct purchases over the next 7–8 years. The initiative mirrors the corporate treasury strategy of major firms like Strategy’s 638K BTC holdings, signaling a shift toward sovereign-level Bitcoin adoption.If enacted, the bill would significantly reduce Bitcoin’s liquid supply, reinforcing long-term price stability. Capital B, Europe’s first Bitcoin treasury entity, already holds 2,249 BTC, laying the groundwork for state-level accumulation. However, political delays or fiscal amendments could temper the bill’s immediate market impact.Bitcoin Outlook: Key Levels to WatchMarket analysts describe the current setup as “fragile but supported”, with BTC consolidating after reclaiming the 21-week EMA at $111,200 and weekly close above $114,500.According to Greeks.Live, traders expect a range-bound move between $110K–$116K, with possible rallies toward $118K before a retest of lower liquidity zones near $106K.Despite short-term caution, bullish divergence signals, ETF-based institutional exposure, and sovereign accumulation narratives keep the broader bullish structure intact.Big Picture: Institutional Demand vs. Macro HeadwindsBitcoin’s trajectory now hinges on whether institutional inflows from ETFs and sovereign initiatives can outweigh profit-taking and macro uncertainty. The France BTC Reserve Bill could mark a historic precedent, adding nation-state adoption to the list of BTC bullish catalysts.As the Federal Reserve’s rate decision approaches, traders are eyeing $112K as key support and $118K as resistance, with broader consensus that holding above $114K signals market strength.