Bitcoin Surpasses $107K Following FHFA’s Crypto Mortgage Guidance
Bitcoin's price rose to over $107,000, increasing by 2.2% in the last 24 hours, outperforming the CoinDesk 20 index, which gained 0.5%. Key developments include:
- Fannie Mae and Freddie Mac were directed to prepare for accepting cryptocurrencies as assets for mortgage applications.
- Bitcoin's market dominance increased to nearly 66%, up from 39% in November 2023.
- The announcement from FHFA Director William Pulte suggests that borrowers can use crypto holdings without selling them.
- Strive CEO Matt Cole highlighted the implications for Bitcoin holders purchasing homes.
- The ceasefire between Israel and Iran may have contributed to Bitcoin's price increase.
In crypto stocks, notable movements included:
- CleanSpark (CLSK) rose 6.7%.
- CoreWeave (CORZ) declined by 6.7%.
- Circle (CRCL) fell 11%, down 33% since its peak earlier this week.
Circle's current stock price is $198.62, significantly higher than its IPO price of $31.