Trump vs. Musk: A Crypto Circus You Can’t Miss! 🤯

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Ah, the week began with all the enthusiasm of a sleepy snail, but lo and behold! The political theatrics across the ocean have managed to stir even the most unflappable of markets! Yes, you heard right—what began as a political squabble between the US President and a billionaire tycoon turned into a grand spectacle, affecting crypto markets like a thunderstorm in the midst of a sunny afternoon. But let’s not get ahead of ourselves—before we dive into this melodrama, let’s take a brief look back at the past week’s price motions. 🧐

Bitcoin, bless its soul, started the week calm and collected—hovering around a respectable $104,000 after experiencing a few rejections at $110,000 last week. It was like that guest at a party who refuses to leave their spot by the punch bowl—content, if not very dynamic. 🎉

But, of course, we couldn’t have peace for too long. As the new week rolled in, Bitcoin got a little restless, trying to rise but finding itself stuck at a disappointing $106,500. The market might’ve gotten a bit more feisty when the European Central Bank (ECB) lowered interest rates to a mere 2% (a two-year low!), yet even with such news, Bitcoin’s excitement lasted mere moments. 📉

In typical crypto fashion, it faced an immediate sell-off and plummeted to $100,400. And of course, the blame fell squarely on the ever-amusing drama between Musk and President Trump, each using their social media platforms like fiery arrows to target the other. Musk claimed Trump was involved in “the Epstein files” (oh, the intrigue!), while Trump threatened to cancel Musk’s government contracts. What a spectacle! 🍿

Despite this soap opera, Bitcoin managed to recover slightly and now trades at around $104,000. A mere 1.7% drop from last week—small potatoes when compared to the carnage in altcoins like DOGE (-12.5%), SIU (-8.5%), and AVAX (-10%). But who’s counting? 😏

Market Data

Market Cap: $3.365T | 24H Vol: $145B | BTC Dominance: 61.4%

BTC: $103,860 (-1.7%) | ETH: $2,471 (-4.7%) | XRP: $2.16 (-1.2%)

This Week’s Crypto Headlines You Can’t Miss

No Price Spike, But 22,500 BTC Quietly Left Exchanges in a Single Day. So, the price hasn’t budged much—but hey, look at that! Over 22,500 BTC quietly slipped off exchanges and into private wallets in a single day. It’s like a mass exodus, but where’s the dramatic music when you need it? 🎬

On-Chain Data Signals ‘Buy the Dip’ as Bitcoin Hashrate Hits New Highs. Despite the dip (and let’s face it, crypto always loves a good dip), the Bitcoin Hashrate Indicator is flashing a “buy the dip” signal. Because who doesn’t love a good bargain, right? 💸

ECB Cuts Interest Rates Again: How Did Bitcoin React? The ECB decided to drop interest rates to a 2% low. Bitcoin did a little jump and then remembered it had better things to do, like… drop back down a notch. Classic Bitcoin. 🐢

Robinhood Cements Crypto Ambitions with $200M Bitstamp Takeover. Robinhood, ever the eager beaver, announced its $200 million acquisition of Bitstamp. Look out, Europe, Robinhood is here to stir the pot! 🍲

Bitcoin Sees Intense Surge in Realized Profits Following Ascent to $111K: Glassnode. As Bitcoin surged to $111K, people did what any sensible person would do—took their profits and ran. When you’re ahead, you’ve got to know when to leave the casino. 🎰

Strategy Announces Proposed IPO of STRD Stock to Buy More Bitcoin. The world’s largest corporate holder of Bitcoin, Strategy, plans an IPO to raise $1 billion so they can buy even more Bitcoin. It’s like shopping on Black Friday—but for Bitcoin. 🛍️

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2025-06-06 17:10