Piero Cipollone, a member of the ECB's Executive Board, demanded that EU negotiators conclude a deal on the digital euro legislation by year-end, warning that a potential 2029 launch would be jeopardized otherwise. Speaking to the European Parliament's economic and monetary affairs committee, he explained that adoption of the regulation in the euro area package would give the ECB the legal certainty needed to complete preparations. "A delay in adoption could postpone the introduction of the digital euro," Cipollone said. He added that a later start would increase Europe's dependence on foreign payment providers and make it harder for European firms to compete.
Reminder: the ECB aims to be ready for a first issuance in 2029, provided the EU adopts the regulation this year, and the Governing Council will decide whether and when to issue the digital euro only after the law passes. The Parliament's ECON committee approved its position in June, the Parliament adopted a mandate in July, and negotiations with member states are now underway. Parallel to that, the ECB is preparing a 12-month pilot that will start in the second half of 2027.
Timing pressure is heightened by a personnel reshuffle. Christine Lagarde announced on October 29 that she will step down on February 7, 2027—almost nine months before her term ended and just months before the pilot begins. I believe the digital euro project risks getting queued behind senior appointments. It is notable that in January 2025 Lagarde stated confidence that central bank reserves would not include Bitcoin, yet under her the ECB launched its own tokenized payments infrastructure. The era's main crypto critic is leaving, and the digital euro launch will fall to her successor.
For the crypto market the news is less about Bitcoin than about payments. Beneficiaries will be the ECB, European banks, and payment providers that gain a pan-European infrastructure, as well as merchants now reliant on U.S. card networks. Losers are Visa and Mastercard, and issuers of dollar stablecoins that aim to play a settlement-layer role in Europe. Previously Visa Direct moved USDC top-ups from pilot to commercial use, and Mastercard bought BVNK in August; payment networks had been treating stablecoins as the future, but Brussels is now openly warning of the cost of dependency on foreign providers.
I think a full political deal by year-end is possible but less likely than the ECB hopes; a postponement to early 2027, with revised timing, is more probable. The 2029 date will hold only with a rapid compromise. It is clear, however, that pressure on dollar stablecoins and U.S. payment networks in Europe will build as the pilot approaches—yet the first real competitor to these products will likely be European tokenized settlement rails, not a retail digital euro.
Technical analysis and recommendations:
As for Bitcoin, buyers are now targeting a return to $75,000, which would open a direct path to $76,900 and then to $78,500; clearing that level would signal attempts to re-establish a bull market. On the downside, buyers should appear at $72,800. A close below that region could quickly push BTC toward $71,100, with a farther target near $69,400.
As for Ethereum, a clear close above $2,093 opens a direct path to $2,149. The next target is the high around $2,194; breaching that would indicate strengthening bullish sentiment and renewed buyer interest. On the downside, buyers should appear at $2,020. A drop below that area could quickly take ETH toward $1,974, with a farther target near $1,916.
What we see on the chart:
- Red lines indicate support and resistance levels where either a price slowdown or active growth is expected;
- Green lines indicate the 50-day moving average;
- Blue lines indicate the 100-day moving average;
- Light green lines indicate the 200-day moving average.
A crossover, or a price test of moving averages, typically either halts the move or sparks fresh market momentum.
