Bitcoin Today News: France Plans to Set Up $48 Billion BTC Reserve; SoFi Announces Entry into the Encryption Field

The French National Assembly is reviewing a major proposal led by MP Éric Ciotti, planning to allocate approximately 48 billion USD (about 2% of the reserves) from the national reserves for a Bitcoin strategic reserve, aimed at enhancing national financial sovereignty and formally opposing the EU's digital euro agenda. If passed, France will become the first major economy in Europe to officially integrate Bitcoin into its central reserves. Driven by this favourable information and market optimism, the price of Bitcoin briefly broke through 115,500 USD; at the same time, the fintech giant SoFi announced that it will launch Bitcoin and crypto assets trading services by the end of 2025, and plans to introduce its stablecoin SoFi USD in early 2026, further promoting the mainstream adoption of crypto assets.

France's Geopolitical Shift: $48 Billion Bitcoin Reserves Challenge EU Digital Sovereignty

France is considering a bold financial strategy adjustment that could have far-reaching implications for the monetary direction of Europe. The motion proposed by Republican right-wing coalition member Éric Ciotti calls for France to reject the European Central Bank's digital euro and to support stablecoins and Bitcoin as alternatives.

• Establish Bitcoin Reserves: The proposal plans to allocate 2% of the French national reserves (approximately USD 48 billion) to Bitcoin to enhance the country's financial independence and sovereignty.
• Regulatory Reform: The plan also suggests allowing Crypto Assets to be used as institutional collateral and revising EU financial regulations to support a broader integration of Crypto Assets.
• European Precedent: If approved, France will become the first major European country to officially recognize Bitcoin reserves, following the United States and Bhutan, marking an increase in political support for Bitcoin within Europe. Driven by this news, the price of Bitcoin has seen a moderate rise today.

SoFi Enters the Crypto Market: Financial Giant Embraces the Wave of Digital Assets

In response to the favorable information from France's policies, American fintech giant SoFi Technologies announced plans to launch Bitcoin and Crypto Assets trading services by the end of 2025. Previously, the company reported record third-quarter results, with revenue reaching $950 million, a year-on-year increase of 38%, exceeding analysts' expectations.

SoFi CEO Anthony Noto stated that digital assets will play a key role in SoFi's future. The company, which once focused on student loans, has now transformed into a full-service financial ecosystem and plans to launch its own stablecoin SoFi USD in early 2026. Additionally, SoFi plans to expand its blockchain-based international transfer services to provide faster and cheaper payments. This move by SoFi is another step towards the mainstream adoption of financial assets, further boosting market optimism.

Bitcoin Technical Analysis: Short-term Pullback, Bullish Target of 124,000 USD

Despite the accumulation of global macro optimism, the price of Bitcoin (BTC/USD) is facing resistance in the short term.

(Source: TradingView)

• Short-term Resistance and Support: The price of Bitcoin is currently trading around 112,400 USD, having previously encountered resistance at the double top resistance level of 117,600 USD, failing to maintain upward momentum. The daily chart shows that BTC has formed lower highs within a short-term descending channel, indicating a cooling period following last week's rebound.
• Key Indicators: The 20-day moving average (EMA) has flattened to $114,900, acting as dynamic resistance; while the 50-day EMA is being tested around $112,300, serving as recent support. The Relative Strength Index (RSI) hovers around 49, reflecting neutral momentum, but warns that a drop below 45 could present downside risk.
• Bullish Path: A break below $112,200 could expose the price to the $108,600 area. Conversely, if it can reclaim $114,900, the bullish bias will shift towards the $117,600 neckline, thereby opening the path to the Fibonacci extension targets of $120,500 and $124,100.

For traders, a clear breakout above 117,600 USD marks a new round of bullish momentum; while holding above 108,600 USD keeps the broader upward trend intact. With market sentiment stabilizing and macro optimism accumulating, a breakout of Bitcoin above 130,000 USD in the medium term remains a reasonable scenario.

Conclusion

Discussions in France about establishing Bitcoin reserves, along with the entry of financial technology giant SoFi, have jointly provided strong macro and institutional favourable information signals for the Bitcoin market. This indicates that global recognition of crypto assets is shifting from speculation to strategic reserves and core financial services. Although Bitcoin faces technical resistance in the short term, the expansion of macro liquidity and the continued growth of institutional demand provide a solid foundation for the medium-term target of 130,000 USD.

Disclaimer: This article is for informational purposes only and does not constitute any investment advice. The cryptocurrency market is subject to significant fluctuations, and investors should make decisions cautiously.