Bitcoin held near $108,700 as global developments reshaped sentiment across crypto markets. The G20’s Financial Stability Board warned of major regulatory gaps amid a $4 trillion market surge, while Babylon Labs launched a trustless Bitcoin DeFi system on Ethereum.
At the same time, Nasdaq-listed Zeta Network raised $230 million in a BTC-backed sale, reinforcing confidence despite Bitcoin’s ongoing consolidation below $110,000.
G20 Watchdog Warns of Global Crypto Regulation Gaps
The G20’s Financial Stability Board (FSB) has warned that major gaps remain in how countries regulate cryptocurrencies, despite the market’s value doubling to $4 trillion over the past year. The FSB noted that stablecoins, now worth about $290 billion, are only fully regulated in a few jurisdictions.
FSB Secretary General John Schindler emphasized the need for global cooperation, citing the ease of cross-border crypto transfers and the growing link between digital assets and traditional finance. While risks are limited for now, the FSB cautioned they could rise as adoption deepens.
Bitcoin traded near $108,690, largely unaffected by the report. Analysts viewed the FSB’s call for unified oversight as a positive step toward establishing clearer global standards for cryptocurrency regulation.
Babylon Labs Unveils Trustless Bitcoin DeFi on Ethereum
Babylon Labs has introduced a new system that allows users to borrow on Ethereum using native Bitcoin as collateral, without relying on centralized bridges or intermediaries. The mechanism, powered by BitVM3 technology, secures BTC in cryptographically verified vaults.
An experimental version, VaultBTC, is currently being tested on the Morpho lending protocol. While the system is largely trustless, analysts note that its liquidation process still depends partly on authorized liquidators and trusted oracles.
The launch reflects growing efforts to integrate Bitcoin into decentralized finance. Analysts say expanding Bitcoin’s role beyond payments and storage could strengthen long-term demand, as BTC held steady near $108,690.
Zeta Network Raises $230M with BTC-Backed Private Sale
Zeta Network, a Nasdaq-listed company, has raised $230.8 million through a private share sale, accepting both Bitcoin (BTC) and SolvBTC, a wrapped BTC token from Solv Protocol. The firm issued new shares and warrants while adding Bitcoin-based assets to its treasury, reinforcing confidence in BTC’s long-term value and scarcity.
Solv Protocol CEO Ryan Chow said more public companies are finding innovative ways to hold Bitcoin, aligning with the growing demand for BTC yield products such as Coinbase’s Bitcoin yield fund and BlackRock’s proposed Bitcoin income ETF.
Zeta’s Bitcoin-backed fundraising boosted market sentiment, with BTC trading near $108,700 as investors viewed the move as another sign of accelerating institutional adoption.
Bitcoin Price Prediction: Descending Channel Hints at Drop Toward $103,500
Bitcoin (BTC/USD) remains range-bound below $110,000, facing difficulty regaining upward traction after multiple failed attempts above $109,600. The chart outlines a potential triple-bottom formation, but persistent rejection near $110,500 and a descending triangle breakout highlight weakening buyer momentum.
A bearish crossover between the 20- and 50-period EMAs adds pressure, signaling continued downside risk. The RSI near 42 stays below its midpoint, indicating a lack of buying strength. Price action shows lower highs and no clear bullish engulfing candle to confirm a reversal.
If BTC fails to break above $110,500, a move toward $107,300 appears likely, followed by deeper supports at $105,200 and $103,500 key levels where buyers have historically stepped in.
Bitcoin continues to trade below a descending triangle pattern, with TradingView projections suggesting a possible retest. A decisive close above $112,700 would invalidate the bearish bias, opening a path toward $114,600 and $117,600.
Traders may look for short setups below $109,500, targeting $107,300, while long positions are better placed above $112,700. Despite near-term weakness, analysts expect Bitcoin’s broader uptrend to hold, with a potential Q4 rebound once consolidation resolves.
Bitcoin Hyper: The Next Evolution of Bitcoin on Solana?
Bitcoin Hyper ($HYPER) is bringing a new phase to the Bitcoin ecosystem. While BTC remains the gold standard for security, Bitcoin Hyper adds what it always lacked: Solana-level speed.
Built as the first Bitcoin-native Layer 2 powered by the Solana Virtual Machine (SVM), it merges Bitcoin’s stability with Solana’s high-performance framework. The result: lightning-fast, low-cost smart contracts, decentralized apps, and even meme coin creation, all secured by Bitcoin.
Audited by Consult, the project emphasizes trust and scalability as adoption builds. And momentum is already strong. The presale has surpassed $23.7 million, with tokens priced at just $0.013115 before the next increase.
As Bitcoin activity climbs and demand for efficient BTC-based apps rises, Bitcoin Hyper stands out as the bridge uniting two of crypto’s biggest ecosystems.
If Bitcoin built the foundation, Bitcoin Hyper could make it fast, flexible, and fun again.
Click Here to Participate in the Presale
The post Bitcoin Price Prediction: After Triangle Breakdown, Is a Drop Below $105K Next? appeared first on Cryptonews.
Credit: Source link
