The cryptocurrency market fell over 1% in the past 24 hours as bearish sentiment persisted despite positive macroeconomic developments. Markets also experienced volatility ahead of the upcoming FOMC meeting as traders remain cautious. As a result, Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies remained in the red. BTC traded around $116,000 on Tuesday. However, it lost momentum early on Wednesday and dropped to a low of $112,255 before moving to its current level. BTC is down 1% in the past 24 hours, trading around $112,844. 

Meanwhile, ETH is down over 2%, trading around $4,016. The world’s second-largest cryptocurrency has struggled to retain momentum with selling pressure returning after it briefly crossed $4,150 on Wednesday. Ripple (XRP) is down 0.50%, while Solana (SOL) is down over 3%, trading around $194. Dogecoin (DOGE) is down 3% and Cardano (ADA) is down 2.35%, trading around $0.643. Chainlink (LINK), Stellar (XLM), Hedera (HBAR), Litecoin (LTC), Toncoin (TON), and Polkadot (DOT) also registered substantial declines over the past 24 hours.

France Considering Proposal to Adopt Bitcoin (BTC) And Stablecoins 

France is reviewing a proposal to adopt Bitcoin (BTC) and stablecoins while rejecting the European Central Bank’s digital euro. According to a motion led by Éric Ciotti from the Union of the Right for the Republic, France could allocate 2% of its reserves, around $48 billion, to BTC. The motion also recommends allowing cryptocurrencies, such as BTC, to be used as institutional collateral and revising EU financial regulations to support broader cryptocurrency integration. 

“A pro-crypto bill will be tabled today in the French Parliament. This is the fi

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Author: Amara Khatri