Bitcoin price holds steady at $100 today amid tension between Trump and Elon Musk
- Bitcoin finds technical support at $100K
- Trump-Elon spat puts pressure on cryptocurrency market
- Crypto capitalization drops to US$ 3,26 trillion
Friday, June 6, 2025 – Bitcoin price is at $103.972, down 1% over the past 24 hours. After approaching support at $100, BTC has managed to recover and is trading above $103.
Ethereum (ETH), the second-largest cryptocurrency by market cap, is trading at $2.473,18, down 5,90% in the last 24 hours. BNB, Binance's native token, is also in the red, trading at $647,20 after falling 2,62%.
Among the negative highlights, Dogecoin (DOGE) fell 7,01%, trading at US$ 0,1778. Solana (SOL), in turn, lost 2,10% and is quoted at US$ 150,46. XRP also did not escape the correction and fell 2,88%, reaching a price of US$ 2,155.
Cardano (ADA) continued its downward trend, trading at $0,656 after falling 4,58%. Contrary to the market, TRON (TRX) was the only major cryptocurrency to register an increase, with an appreciation of 1,94% in the last 24 hours, reaching a price of $0,2787.
Despite the sharp drop, there was a slight recovery in the early hours of Asian trading on Friday, with the total value rising to $3,3 trillion. Still, analysts note that a loss of current support could pave the way for further declines.
Tension between Trump and Elon Musk
The unstable macroeconomic environment has been compounded by a public clash between Donald Trump and Elon Musk, which has had a direct impact on market sentiment. In recent posts, Musk has criticized Trump’s tariffs, saying they “will cause a recession in the second half of this year” and accusing Congress of “bankrupting America.”
In light of the President's statement about cancellation of my government contracts, @SpaceX will begin decommissioning its Dragon spacecraft immediately pic.twitter.com/NG9sijjkgW
- Elon Musk (@elonmusk) June 5, 2025
Tensions escalated when the billionaire announced on X that, due to the US president's comments about canceling government contracts, SpaceX would begin to decommission its Dragon spacecraft. Trump responded on Truth Social, saying he "doesn't care" about Musk's stance, but defended the One Big Beautiful Bill as "one of the largest spending bills ever introduced in Congress."
The situation took on an even more serious tone with a direct accusation from Musk, insinuating that Trump was linked to Epstein's files. "This is the real reason they weren't made public. Have a nice day, DJT!" Musk wrote on his social network.
Despite the exchange of barbs, Musk signaled on Thursday night that there could be an attempt at reconciliation. However, the impact of the dispute had already been reflected in the cryptocurrency market, putting pressure on assets such as Bitcoin, which is now testing the psychological support of US$ 100 again.
This clash between two influential figures raises concerns among institutional investors, who monitor political behavior and its effect on financial markets, especially in the regulatory context of cryptos.
