Crypto News - 6 June 2025 - Bitcoin steadies above $100K and Musk–Trump Rift Sends Ripples Through Markets

Markets were thrown into disarray late last night after a public breakdown in relations between Donald Trump and Elon Musk sent shockwaves through both political and financial spheres. The clash, sparked by a barrage of critical posts and remarks from both camps added sudden uncertainty to a market already on edge from ongoing macro pressures. Equities slid and Bitcoin dipped sharply, briefly trading under $102K. As reported by Reuters, the feud marked a dramatic turn in what had been a high-profile alliance, unsettling investors across sectors (source). However, early signs this morning point to a modest recovery, with crypto markets beginning to stabilize heading into the weekend.

Bitcoin Holds Firm Above $100K as Market Eyes Regulatory Developments

Bitcoin (BTC) has maintained its position above the $100,000 mark this week, trading around $105,050. This stability comes amid a backdrop of significant regulatory discussions and institutional movements in the crypto space. Analysts suggest that Bitcoin's resilience is bolstered by ongoing institutional interest and the anticipation of clearer regulatory frameworks.

Ethereum Faces Resistance Amid Market Volatility

Ethereum (ETH) experienced fluctuations this week, currently trading at approximately $2,515. After reaching highs near $2,610, ETH faced resistance and pulled back, reflecting the broader market's cautious sentiment. Despite the volatility, Ethereum remains a focal point for investors, especially with discussions around potential spot ETF approvals gaining traction.

Circle's IPO Signals Growing Institutional Confidence in Crypto

Circle, the issuer of the USDC stablecoin, made a remarkable debut on the New York Stock Exchange, raising $1.05 billion and seeing its stock surge 168% above the IPO price. This successful listing is viewed as a significant milestone, potentially paving the way for other crypto firms to enter public markets. Analysts interpret this move as a sign of growing institutional confidence in the cryptocurrency sector.

UK's FCA Considers Lifting Ban on Crypto ETNs for Retail Investors

The UK's Financial Conduct Authority (FCA) is contemplating lifting its ban on crypto exchange-traded notes (ETNs) for retail investors. This potential policy shift aims to enhance the country's competitiveness in the crypto industry while ensuring consumer protection. If implemented, it could open up new investment avenues for retail participants in the UK.

Bitcoin hashrate continues to rise and why it matters.

Bitcoin’s hashrate just hit an all-time high and that matters more than you might think. When more miners join the network, competition increases, driving up the cost to mine each block. Normally, this would discourage new entrants. But right now, the opposite is happening: hashrate is surging. That tells us something important. Either people just really love mining and are doing it for fun… or miners are positioning for a future where Bitcoin’s price goes much higher. In other words, growing hashrate is more than a technical stat, so it’s a vote of confidence from those with the most skin in the game.

Bitcoin ETF Flows: Wild Swings, Net Outflows Dominate

This week’s Bitcoin ETF activity was a rollercoaster. Monday opened with a sharp $267 million in outflows, led by BlackRock (-$130M), Ark (-$74M), and Grayscale (-$16.5M). Things reversed on Tuesday with a healthy $375 million in net inflows, and again Wednesday with $87 million. But Thursday saw the rug pull again: nearly every issuer recorded redemptions, with Fidelity, Bitwise, Ark, and BlackRock all reporting outflows, totaling $278 million. The erratic flow pattern suggests indecision and repositioning among institutional holders.

Ethereum ETF Flows: Consistent Inflows Despite Market Chop

Ethereum ETFs showed quiet strength this week. After a strong start Monday, the week saw consistent inflows across BlackRock, Fidelity, and Franklin, with a total of $256.9 million added over four days. Notably, even during broader market weakness, ETH ETFs continued to attract capital, reinforcing the idea that institutions may be building positions in anticipation of spot ETF approvals or improved Layer 2 adoption narratives.

LOAN Leads While Majors Tread Water

LOAN Protocol emerged as the clear outperformer this week, gaining +21.6% on the back of strong community engagement and growing usage of the lending protocol on Metal X. Meanwhile, majors like Bitcoin (-0.4%) and Ethereum (-3.0%) edged lower amid ETF uncertainty and macro caution. Ripple (XRP) finished flat, while Metal DAO and the broader altcoin complex remained under modest selling pressure. The move in LOAN continues a multi-week trend of strength for tokens with strong DeFi utility and governance momentum.

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