Poland’s president has vetoed a strict crypto bill, while a leading chart analyst maps a possible Bitcoin relief rally toward $105,000 to $107,000. The combination of political pushback and technical indicators is shaping the potential trajectory of the market before its next major correction.
Poland’s President Blocks Crypto Bill Amid Civil Liberty Concerns
President Karol Nawrocki of Poland rejected the proposed Crypto-Asset Market Act, citing concerns that the bill could infringe upon property rights. He vetoed the measure on December 1, stating that the draft law granted authorities excessive power to block crypto-related websites. His office also expressed reservations about the high supervisory fees that would be imposed on local companies.
This veto prevents Poland from implementing a stringent national version of the EU’s MiCA framework. While lawmakers intended to introduce enhanced oversight and new licensing requirements, the president argued that the bill jeopardized individual freedoms and could erode confidence in the regulatory system. He advocated for a more balanced approach that would safeguard users without unduly restricting lawful activities.
The decision means that existing regulations will remain in effect while the parliament considers amending the bill or attempting to override the veto. This development also highlights an ongoing debate within the EU regarding the extent of regulation for digital assets as their adoption continues to grow across the region.
Bitcoin Faces Potential Relief Rally as Analyst Details Market Phases
In parallel, Bitcoin is trading near the $93,000 to $94,000 range, with chart signals suggesting a potential relief rally towards the $105,000 to $107,000 zone. This outlook comes from analyst Crypto Caesar, who identified these levels after Bitcoin experienced a rebound from support between $87,000 and $89,000. His chart indicates repeated price reactions within this band, which contributed to price stabilization following a significant decline in November.
The analysis points to a broad resistance block situated just above $100,000. Bitcoin has encountered rejections in this area multiple times earlier in the year, with the chart illustrating several instances of price failing to break through during the summer and early autumn. As the price now advances toward this region once again, traders are closely observing whether the current move will extend to the upper limit of the resistance before momentum subsides.
Crypto Caesar has outlined a potential market sequence that begins with a relief rally, followed by a rotation into altcoins, and concluding with a broader market downturn. He emphasizes that Bitcoin’s lower highs since reaching its peak of $125,000 continue to define the larger market structure. Given that the market remains below key resistance levels, his chart suggests that the upcoming reaction at the $105,000 to $107,000 range will be crucial in determining whether Bitcoin achieves a more robust recovery or enters a deeper correction.