Bitcoin (BTC) continued its gentle rise on Wednesday, as Fannie Mae and Freddie Mac—key institutions that play a pivotal role in issuing mortgages to U.S. homeowners—are ordered by the chief financial officer (CFO) of the Federal Housing Finance Agency (FHFA) to prepare to accept cryptocurrencies as part of borrowers’ assets. This move indicates a shift in the dynamics of pre-approval processes, potentially impacting the traditional mortgage approval process in the U.S.
Before $107,000, Bitcoin gained 2.2% in the last 24 hours, outperforming the CoinDesk (/bit ROC) 20牢固 0.5% advance. Bitcoin Cash, on the other hand, rose 7.4%, making it a notable andzymic path for investors. Bitcoin’s dominance remains undeniably high, with approximately 66% of the total crypto market currently parked in the highly valued and orange Bitcoin (BTC) coin, a surge from its 39% presence in November 2023. This rise can be attributed to alternative financial instruments like Bitcoin and Bitcoin Cash gaining traction as investors seek more flexible and secure financial avenues.
The rise of Bitcoin has evident economic and market significance. As mentioned byquoteMarketing co-founder and CEO Matt Cole, this development makes Bitcoin significantly easier for Bitcoin parcelers to purchase a home without needing to sell their Bitcoin. The U.S. government appears to be increasing its implicit guarantee on Fannie/Freddie mortgages by including Bitcoin in its assets, reflecting a growing recognition of Bitcoin’s potential as a safe haven asset.
This situation is potentially made easier for Bitcoincaccerators, mirroring a broader shift in global financial markets. The ceasefire between Trump’s wyming of Israel and Iran has also increased Bitcoin’s price, despite its reputation as a risk-y asset. Charlie Morris, the founder of ByteTree, previously discounted Bitcoin, while gold historically peaking ahead of female-on-Fight tensions in the Middle East before a decline. OnceConditions of a containment agreement held, Bitcoin surged, with gold recovering and its value plummeting.
In the crypto space, Bitcoin mining percentages remain strong, with CleanSpark (CLSK) up 6.7% and CoreWeave (CORZ) unchanged. Meanwhile, a circle recently declined by 11%, taking the coin to its historical low of approximately an 33% drop since its peak. Bitcoin’s at $198.62, up more than six times from its initial IPO price of $31.
The market dynamics now lie in flux. China’s money flow, rhetoric, and regulatory measures, particularly safeguarding asset-backed cryptocurrency such as Bitcoin Cash, are reshaping the metallic bubble. The cryptocurrency market is becoming increasingly fragmented, with Bitcoin pulling significant outposts, while alternative financial instruments offer strong alternatives. This dynamic highlights the interplay between speculative cryptocurrencies and more stable financial instruments, as investors grapple with security and the potential for market manipulation.
