The French crypto industry is once again in the spotlight. Reuters reveals that France is once again at the heart of European crypto debate, indicating that it could move to block licensed companies in other EU jurisdictions from operating within the country.

The regulatory warning issued on Monday by Marie-Anne Barbat-Layani, Chairman of the Autorité des Marchés Financiers (AMF), highlights the deep fractures already manifested in the European Union’s groundbreaking market in the European Union’s Crypto Asset Regulation (MICA).

MICA, officially enacted by service providers in December 2024, was billed as the world’s first comprehensive digital asset rulebook.

This framework allows crypto companies to obtain permits in one member country and “passport” their licenses in all 27 countries.

The map is clear 246 days after MICA came into effect.

He leads with Areland 123’s Mica white paper.
Germany: 59
RieChtenstein: 36
Malta: 26
Netherlands: 21
France: 7
Spain: 3

246 days after Mica went live, our map shows where the code launches are taking place… pic.twitter.com/1d7y8wf30p

– Storm Partners (@storm_partners) September 2, 2025

However, since the scheme was rolled out, Ireland, for example, has so far received 17.5 times the number of crypto-passports as France.

For businesses, the passport mechanism is an award and an efficient gateway to the block’s single market. However, regulators like the AMF have made fault lines public for the past nine months.

24 hours7d1Y

Barbat-Layani warned that companies are already “shopping” for their weakest jurisdictions, and have secured light touch licenses before expanding to larger markets such as France. “The possibility of denying an EU passport is not ruled out,” she told Reuters, comparing the option to “atomic weapons” that can be deployed if the director gap continues.

This comment is because France, Italy and Austria jointly seek the European Securities and Markets Agency (ESMA) to envisage direct surveillance of major crypto companies.

In a joint paper, three regulators argued that the implementation of the early MICA revealed a “major difference” in the way national supervisors interpret and enforce rules. They argue that the direct ESMA oversight they argue is essential to protect investors and ensure a level playing field.

That push follows stinging criticism of Malta’s licensing regime. In July, in a peer review of the ESMA, the Malta Financial Services Agency found that it “partially met expectations” when approving the crypto provider, highlighting a decline in risk assessments and slow follow-up of supervision.

Additionally, the report has encouraged concerns that smaller jurisdictions could become regulatory gateways for businesses seeking rapid EU access.

Discover: Best New Cryptocurrencies to Invest in 2025

Are there other reasons why crypto companies are escheating France?

The regulatory debate of the high stakes unfolds against the tense background in France’s own crypto ecosystem. Over the past few months, a series of violent intrigues targeting crypto entrepreneurs and their families has rattled the industry. French police have attempted to acquiring at least half a dozen of them to demand ransom for digital assets, including cases in which victims were cut off to put pressure on millions of payments.

Security experts warn that some of the new EU reporting requirements could make it easier for criminals to identify wealthy targets.

This double pressure, fragmentation of regulations at the EU level and rising domestic security concerns have put Paris in a difficult position as the summer season approaches.

AMF has spent years on blockchain startups that brand France as a jurisdiction of clarity and reliability, especially after granting a license to Binance’s French organization in 2022.

The interests are high for investors and businesses. If France unilaterally refuses to recognize licenses from other EU states, the single market promises supporting MICA could break before they become fully established.

However, it is important to understand that risk is not just reputation but structural. The divergence of EU oversight will undermine confidence at the moment Europe is considering whether Trump can provide a reliable alternative to America.

Discover: 9+ Best High Risk, High Reward Cryptographs for Buying in 2025

Why you can trust 99 Bitcoin?

Over 10 years

Founded in 2013, 99 Bitcoin team members have been experts in crypto since the early days of Bitcoin.

90 hours+

Weekly research

100k+

Monthly Readers

50+

Expert Contributors

2000+

Crypto project reviewed

Follow 99 Bitcoin on Google News Feed

Provide the latest updates, trends and insights directly to your fingertips. Subscribe now!

Subscribe now

Bitcoin (BTC) must hold the $114,000 level to attract investors’ confidence and new liquidity to breach the narrow $110,000-$116,000 range.

According to a Sept. 11 report by Glassnode, BTC has been stuck in the “air gap” range following its mid-August peak. The trading range threatens to stall the current rally.

In the current landscape, Bitcoin faces mounting pressure from conflicting forces as recent buyers realize losses while earlier investors take profits.

The report noted three distinct investor cohorts shaping current price action. The first are top-buyers over the past three months holding positions near $113,800, while the second consists of dip-buyers clustering around $112,800.

The third cohort, comprising short-term holders from the past six months, is anchored near $108,300, creating defined support and resistance zones.

The rebound from $108,000 exposed underlying market stress. Seasoned short-term holders realized approximately $189 million in daily profits, representing 79% of all short-term holder gains. The investors who bought during the February-May dips used recent strength to exit positions profitably.

Loss realization weighs on recovery

Recent top buyers compounded selling pressure by realizing daily losses of up to $152 million during the same period. This behavior mirrors stress patterns observed in April 2024 and January 2025, when peak buyers capitulated under similar circumstances.

Net Realized Profit as a share of market cap peaked at 0.065% during August’s rally before trending lower. While current levels remain elevated, the metric suggests inflows provide diminishing support compared to earlier phases of the cycle.

US spot exchange-traded funds (ETFs) net flows dropped sharply since early August, hovering near 500 BTC daily, compared to the robust inflows that fueled previous rallies.

5 Days to Smarter Crypto Moves

Learn how pros avoid bagholding, spot insider front-runs, and capture alpha — before it’s too late.

Brought to you by CryptoSlate

Nice Your first lesson is on the way.

Please add [email protected] to your email whitelist.

The slowdown removes a critical pillar of institutional demand that drove Bitcoin’s ascent through 2024.

Derivatives providing stability

With spot flows weakening, derivatives markets assumed greater importance in price formation. Volume Delta Bias recovered during the bounce from $108,000, indicating seller exhaustion across major futures venues, including Binance and Bybit.

The 3-month annualized futures basis remains below 10% despite higher prices, reflecting measured demand for leverage without speculative excess.

Perpetual futures volume stays muted, consistent with post-euphoric market phases rather than aggressive speculation.

Bitcoin options open interest reached record highs as institutions increasingly use derivatives for risk management through protective puts and covered calls. Meanwhile, implied volatility continues to decline, signaling market maturation and reduced speculative positioning.

With these metrics as a backdrop, reclaiming $114,000 decisively would restore top-buyer profitability and attract fresh institutional capital.

Failure to hold this level risks renewed pressure on short-term holders, with $108,300 and ultimately $93,000 serving as critical downside targets where major supply clusters await.

Mentioned in this article

Bitcoin (BTC) trades in a precarious position near $112,000, caught between key technical levels that could determine its next major directional move following a pullback from the $124,000 all-time high reached two weeks ago.

According to an Aug. 27 report by Glassnode, BTC faces immediate resistance at $113,700, which aligns with the three-month cost basis of recent investors.

Potential sell pressure

Any bounce attempt will likely encounter selling pressure from short-term holders seeking breakeven exits after being pushed into unrealized losses. The one-month cost basis sits higher at $115,600, creating an additional resistance layer that could cap recovery attempts.

More concerning for bulls, the critical support level rests at $107,000, representing the six-month cost basis threshold. As of press time, Bitcoin is priced at $112,206.57.

A sustained breakdown below this zone risks triggering fear among newer market participants and could accelerate downside momentum toward the $95,000-$93,000 region, where historical analysis suggests potential bottom formation.

The Cost Basis Distribution Heatmap reveals a thick cluster of supply between $93,000 and $110,000 that has been forming since December 2024. This accumulation zone has provided resilience above $110,000 but also represents the logical target area should selling pressure intensify.

Statistical analysis of four-year bands indicates prior bearish drawdowns typically found lows around one standard deviation beneath short-term holders’ cost basis, supporting the $95,100 projection.

Investors show indecision

The current market structure indicates that Bitcoin has experienced an 11.4% drawdown from its peak, which remains modest compared to historical mid-cycle corrections that typically exceed 25%.

The Relative Unrealized Loss stands at just 0.5%, far below the 30% levels typically associated with deep bear phases. This metric suggests that the broader market has yet to experience severe stress.

However, sentiment indicators point to mounting pressure. The Spent Output Profit Ratio hovers near neutral at 1.0, indicating that investors are neither realizing significant gains nor losses.

Perpetual futures markets have shifted decidedly bearish since July, with Cumulative Volume Delta showing sustained sell pressure across major exchanges, including Binance and Bybit.

Spot market sentiment has shifted from the strong buying pressure observed in April, which fueled the rebound from $72,000. Funding rates remain near 0.01% across exchanges, indicating a fragile equilibrium where even modest sell pressure could quickly shift sentiment bearish.

Bitcoin’s technical setup presents a binary outcome. Any relief rally faces formidable resistance at $113,700, while losing the $107,000 support opens the door to accelerated declines targeting the $95,000-$93,000 zone where substantial supply clusters await.

Mentioned in this article

After an incredible rally that has put Ethereum on the path to possible new all-time highs, the altcoin is now facing something that could hinder its newfound path. This comes down to a CME gap that had formed on its way up, and historically, CME gaps tend to be filled before there is a bullish continuation. In this case, the CME gap is sitting almost 15% below its current price, and could mean that ETH is in for a crash.

The CME Gap Waiting At $4,080

A crypto analyst has pointed out that the Ethereum price could be facing heavy resistance after rallying to levels not seen since 2021. There is also the formation of a CME gap that threatens to drag the price back down before the bullish rally can continue.

Related Reading

The first of these is the resistance that is currently forming at around the $4,868 zone. This is the previous all-time high levels, so naturally, bears are beginning to mount pressure at this point that could ultimately lead to a price rejection. There is also a potential reversal zone skirting around the $4,680 area as well.

The CME Gap is sitting very low at the $4,185-$4,080, suggesting that the price could retrace to this level to close the gap. If this happens, then late long positions could be trapped as the correction plays out, before reversing toward its all-time high levels once more.

Interestingly, the analyst also points out the fact that the Ethereum price seems to be playing out the Elliot Wave Theory. According to the analysis, Ethereum is actually playing out a microwave 5 in the meantime. What this suggests is that the current uptrend is only the start, and that the main Wave 5 is yet to begin.

Related Reading

Using the Elliot Wave Theory, Wave 5 is expected to be the final wave before the bear market. However, it is a major wave that has historically led to new all-time highs. If the bullish momentum does continue, then Ethereum could end up crossing the $5,000 level in quick succession.

There is also the possibility of a deeper correction if bulls fail to maintain control above $4,000. The analyst points out that another CME gap is left to be filled as low as $3,417-$3,461. But if the price is able to cross toward $4,800, this would be invalidated.

Featured image from Dall.E, chart from TradingView.com

Donald Trump tried to distract from his failing leadership by attacking Rosie O’Donnell, calling her a “Threat to Humanity” and threatening to “take away her Citizenship” in a Truth Social Post this morning. But the U.S.-born comedian, who currently lives in Ireland, clobbered back good and hard with a lyrical attack of her own.

“Hey donald – you’re rattled again,” O’Donnell began, taunting Trump over his latest debacles, including his Epstein-file cover-up and the catastrophic flash flood that killed at least 129 people in Texas under his watch. And the rest of O’Donnell’s post reads like pure poetry:

18 years later and I still live rent-free
in that collapsing brain of yours.
you call me a threat to humanity –
but I’m everything you fear:
a loud woman
a queer woman
a mother who tells the truth
an American who got out
when the country caught fire
you build walls –
I build a life for my autistic kid
in a country where decency still exists
you crave loyalty –
I teach my children to question power
you sell fear on golf courses –
I make art about surviving trauma
you lie, you steal, you degrade –
I nurture, I create, I persist
you are everything that is wrong with america –
and I am everything you hate about
what’s still right about it
you want to revoke my citizenship?
go ahead and try, king joffrey with a spray tan
i’m not yours to silence
i never was
rosie

From Politico:

The White House declined to comment on whether Trump was serious about the threat, or how he would revoke the American actor’s citizenship — a move for which there is no clear legal precedent. …

Trump and O’Donnell have long been in conflict, with their feud dating back to a 2006 episode of “The View,” which O’Donnell hosted at the time, in which the actor criticized Trump’s “moral compass,” prompting him to later lash out and call O’Donnell a “woman out of control.”

The rift between the two only grew when Trump entered the political arena. When asked by moderator Megyn Kelly at a 2015 Republican primary debate about his use of language like “fat pigs, dogs, slobs and disgusting animals” to describe women, Trump responded: “only Rosie O’Donnell.”

Their animosity continued through Trump’s first term in the White House, with O’Donnell saying at the time she worried about her ability to “live through” his presidency.

And when Trump was elected a second time last year, O’Donnell decided to leave the country.

Previously: Metadata implies FBI’s “raw” Epstein jail footage was spliced

Binance founder Changpeng Zhao or CZ threatened to sue news agency Bloomberg for a second time over its report alleging links between the exchange and the USD1 stablecoin.

In an X post on Friday, CZ called the article “another hit piece” that was “sponsored by a competitor,” without explicitly naming the competitor. He dismissed it as a report meant to sow fear, uncertainty, and doubt, popularly referred to in crypto lingo as FUD.

CZ stated that the Bloomberg report contains “so many factual errors I don’t even know where to begin,” adding:

“Might have to sue them again for defamation.”

The contentious Bloomberg report

At the center of CZ’s legal threat is a Bloomberg report published on Friday. Citing three anonymous sources, the report alleged that Binance had developed the basic smart contract code that powers the USD1 stablecoin.

World Liberty Financial, a crypto firm linked to U.S. President Donald Trump and his sons, launched USD1 on May 22. The same day, The Wall Street Journal published a report claiming that CZ was playing the role of a ‘fixer,’ introducing the World Liberty Financial team to international dignitaries. CZ denied the claims in the report.

The launch of USD1 came nearly a month after World Liberty Financial founders met with CZ amid a global adoption push. Soon after, an Abu Dhabi-based firm made a $2 billion investment in Binance, which was settled using USD1. The Bloomberg report further claimed that nearly 90% of all USD1 remains in Binance’s wallets, potentially generating tens of millions of dollars in interest for the Trump family.

Soon after the Binance deal involving USD1, CZ sought a pardon from Trump. CZ was convicted and was released after four months in prison last year for failing to maintain appropriate guardrails on Binance to prevent money laundering.

The Bloomberg article claimed that CZ’s expectation of a pardon amid Binance’s close ties to World Liberty Financial raises questions of conflict of interest.

It is worth noting that the crypto community is overwhelmingly in support of CZ, with most users urging CZ to go ahead with the defamation lawsuit against Bloomberg.

CZ’s lawsuits against Bloomberg and other media

CZ has sued media agencies multiple times before. He sued Modern Media, a Hong Kong publisher for Bloomberg, for its July 6, 2022 magazine article alleging that CZ was operating a ponzi scheme. It’s worth noting that Bloomberg itself was not a party in the lawsuit.

In July last year, Modern Media issued an apology to CZ and Binance after it lost a two-year long legal battle. The news agency retracted the report titled “Changpeng Zhao’s Ponzi Scheme,” calling the headline “false and baseless.” At the time, Modern Media agreed to donate an agreed sum in lieu of paying damages.

Prior to the 2022 lawsuit, CZ had also sued Forbes in 2020 for a report alleging that Binance facilitated money laundering and deceived financial regulators. CZ, however, dropped the lawsuit in 2021. In 2022, Binance made a $200 million investment in Forbes.

CZ has also denied claims by other media outlets before. In April, CZ refuted a Wall Street Journal report alleging that he had agreed to testify against Tron founder Justin Sun as a smear campaign.

Mentioned in this article