Bitcoin Defies Drama: Holds Firm Above $100K Amid Trump-Musk Firestorm

Political scandals come and go—Bitcoin's price floor? Apparently here to stay. The king of crypto shrugs off another headline hurricane, trading comfortably north of six figures despite the latest elite spat.

No asset thrives on chaos quite like digital gold. While traditional markets flinch at every tweetstorm, BTC's 2025 bull run plows ahead—proving, yet again, that decentralized money couldn't care less about centralized egos.

Wall Street analysts scramble to update models while hodlers yawn. Funny how the 'risky' asset keeps outlasting the institutions that mocked it. Maybe volatility cuts both ways—but at these levels, who's really gambling?

This Week’s Summary

• The crypto market ends the week at a total market capitalization of $3.29 trillion.
• Bitcoin increased by 1% to trade at $105,000 after a mid-week drop.
• Ethereum stagnates at around $2,500.
• XRP is up 3%, while Solana is down 2% and Dogecoin is down 4%.
• Almost all altcoins are trading in the red, with nearly no exceptions.
• The DeFi sector decreased the total value of protocols (TVL) to around $111 billion.

Crypto Trends 2 – 8 June 2025: Market Analysis and Performance

The crypto market closed another week, marked by general stagnation, financial concern, and rumors. Most cryptocurrencies have declined over the past few days, albeit modestly. One of the events that weighed heavily on financial markets worldwide was the recent scandal involving US President Donald Trump and Tesla CEO Elon Musk. The latter had been an avid supporter of Trump before leaving the President’s team with scathing attacks toward the US Administration, which were later reciprocated. The ongoing drama sparked several debates on how financial markets, particularly the crypto sector, would respond to it. So far, the impact has not been catastrophic, and only a mid-week drop across the board has been recorded. Meanwhile, the market capitalization increased to around $3.29 trillion.

Bitcoin started the week trading at around $104,000. However, the Trump-Musk scandal also took its toll on the king of crypto. As soon as Musk left the US Administration, the value of BTC started dropping. Liquidations increased. As a result, Bitcoin’s value fell to $100,000. Still, not reaching the psychological 6-figure level was essential for the most prominent cryptocurrency and the entire crypto world. It showed that things are not as bad as they seem. Unsurprisingly, Bitcoin recovered over the weekend, now trading at around $105,000.

Ethereum lost some value mid-week, mirroring the rest of the cryptocurrency market. However, the second crypto in command recovered its initial value without too much hassle. Currently, ETH is trading at around $2,500, just as it did last week.

Altcoins & DeFi

Most altcoins are trading in the red, with almost no exceptions. For example, Solana is down 2%, Cardano by 1%, Avalanche by 1%, Sui by 1%, chainlink 1%, and Stellar by 1%. XRP is among the few climbers, following a 3% value boost. Similarly, TRON increased by 7%.

The memecoins are not faring any better, either. For instance, Dogecoin is down 4%, shiba inu is down 2%, and Pepecoin is down 1%.

The Metaverse sector has also seen notable movements in the past week. For instance, Axie Infinity is down 3%, Stacks is down 10%, and Floki is down 1%. Meanwhile, Decentraland is up 4%, Render is up 1%, and ApeCoin is up 13%. The Sandbox increased by 3% and the Moca Network by 8%. On the other hand, Virtuals is down by 8%.

The DeFi sector decreased the total value in locked protocols (TVL) by over $2 billion, reaching around $111.4 billion.

Crypto Market Analysis – What’s in the News?

• Robinhood acquired the world’s oldest still-functioning digital asset exchange, Bitstamp, for $200 million.

Next Week’s Crypto Market Forecast

The crypto market experiences a rare period of stability. The ongoing scandal surrounding the WHITE House is affecting the financial world, but not as severely as the Tariff War. Elsewhere, investors are either buying the dip or liquidating at the first negative rumor they encounter. Hopefully, a price spike will impact the market soon.