#USNews
🇺🇸 US Crypto News Roundup: Market Shakeup & Policy Moves
The crypto market is facing a significant "capitulation" moment today as US economic signals and leadership changes at the Federal Reserve trigger a massive sell-off. Here is what you need to know:
1. The "Warsh" Effect & Fed Anxiety
Bitcoin has dipped to the $63,000 range, its lowest since late 2024. Analysts point to President Trump’s nomination of Kevin Warsh to succeed Jerome Powell as the next Fed Chair. The market "fears a hawk," as Warsh is expected to aggressively shrink the Fed's balance sheet, tightening liquidity that usually fuels crypto rallies.
2. $2 Trillion Wiped Out
Since the October 2024 peak, the global crypto market cap has shed $2 trillion, with $800 billion lost in just the last month. High-profile liquidations—over $1 billion in 24 hours—and a massive $12 billion loss reported by MicroStrategy (MSTR) have added to the bearish sentiment.
3. Regulatory "Project Crypto"
In a historic move, the SEC and CFTC have launched "Project Crypto," a joint initiative to unify digital asset regulation. This aims to end years of jurisdictional "turf wars" and provide a shared framework for tokenized collateral and leveraged trading rules.
4. Ripple (XRP) at the White House
While the broader market is red, Ripple executives attended a White House summit on February 3rd. This signals a major shift in Washington’s willingness to engage directly with crypto leaders to shape future policy.
📊 Summary for Binance Post
The US crypto landscape is currently a tug-of-law between regulatory progress and macroeconomic fear. While the "Project Crypto" collaboration and White House engagement offer long-term hope, the immediate "hawkish" shift at the Federal Reserve has sent Bitcoin and Ethereum into a deep correction. Traders are now watching the $60,000 support level closely as institutional outflows hit record highs.
