Bitcoin and Ethereum prices dropped roughly 2% to 3% on Friday amid a mix of macroeconomic and geopolitical headwinds. The Federal Reserve’s recent signal that interest rates will remain high has driven investors away from risk-heavy digital assets.
Market Impact
The sudden cancellation of a planned US-Iran diplomatic summit in Switzerland triggered over $600 million in leveraged crypto liquidations. Despite the price slump, the FBI announced a new crackdown on crypto fraud, and US housing officials are weighing rules to accept digital assets for mortgage applications.
Bitcoin slipped under the psychological $63,000 threshold, trading near $62,328 by the afternoon, while Ethereum fell to around $1,687. Both of the market’s leading digital assets shed more than 2% in just 24 hours.
Regulatory Developments
FBI Director Kash Patel announced a renewed agency-wide crackdown strictly targeting cryptocurrency fraud. The move signals a tightening compliance net for exchanges operating in the US and aims to bring bad actors to justice in a highly complex financial landscape.
At the same time, there is a serious push to integrate digital assets into traditional American finance. Housing advocate William J. Pulte recently directed mortgage giants Fannie Mae and Freddie Mac to prepare for counting cryptocurrency as a legitimate asset during the mortgage application process.
Original reporting: Tampa Free Press — read the source article.
