Bitcoin falls to lows: Trump's conflict with Musk increases pressure!

Bitcoin falls to lows: Trump's conflict with Musk increases pressure!

On June 6, 2025, after the US stock market closed, Bitcoin was trading at $101,000 on the Bitstamp trading platform, marking its lowest level since mid-May. The daily high reached almost $106,000. The decline comes at a time when tech-heavy stocks are under pressure amid an escalating conflict between US President Donald Trump and Tesla CEO Elon Musk. Both figures are known as supporters of digital currencies, which influences market dynamics.

Market analysis shows that taking profits appears tempting for many investors as they sort through current developments and facts. Timo Emden from Emden Research describes the price constellation as stuck. However, a fresh record high could confirm the uptrend, as Bitcoin has seen an impressive rise since Trump's election on November 5, 2024, from less than $70,000 to over $112,000 on May 22. Bitcoin's market capitalization is over $2.0 trillion, while the entire cryptocurrency market is around $3.2 trillion.

Government Plans and Crypto Future

In parallel with the market movements, Donald Trump plans to appoint David Sacks as government representative for artificial intelligence and cryptocurrencies. Trump emphasizes that both AI and cryptocurrencies are crucial to US competitiveness. Sacks, a close confidant of Elon Musk, will be tasked with making the U.S. a global leader in these areas and will also lead the Science and Technology Advisory Board.

A central aspect of Sacks' mission will be to create a regulatory framework for the crypto industry to promote clarity and growth. Trump has also said that Sacks should protect free speech online and reduce attempts at censorship by big tech companies.

The positive mood in the crypto scene is also influenced by Trump's announcement that he will install Paul Atkins as the new head of the US Securities and Exchange Commission (SEC). This decision could further increase confidence in the regulation and structure of the industry.

Given the exciting developments surrounding Bitcoin and the government's policy plans, many investors remain interested and excited about the next steps in this dynamic market.

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