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Bitcoin drops to ~$100,000 amid Musk-Trump conflict
On Friday, June 6, 2025, the cryptocurrency market suffered a sharp drop: bitcoin fell below $101,000, showing a decline of about 1.5% for the day and more than 4% for the week. The drop was partly caused by a deterioration in investor sentiment triggered by a public dispute between Elon Musk and Donald Trump.
According to data published by CoinMarketCap, during the domestic trading, bitcoin dropped to around $102,987 and then broke through the $101,000 mark, which became an important psychological level.
Echoes of the controversy: Dogecoin is also affected
The conflict between Musk and Trump is not limited to bitcoin. In the wake of the controversy, including Musk's criticism of the Republican tax bill, Dogecoin showed a decline of about 6%, reaching a price of about $0.18. The drop continued for a week, reaching 12% before stabilizing at current levels.
How the conflict affected the crypto market
Investors are on hold. A sharp change in tone between two influential figures seriously undermines the confidence of market participants.
Increased political uncertainty. Musk criticized Trump's bill, calling it a "disgusting monstrosity," and Trump responded by accusing Musk of "insanity" and threatening to cancel federal contracts with Musk's companies.
The connection with the macroeconomy. Such events show that news about the political atmosphere and the positions of business leaders dramatically increase volatility in the crypto sphere.
What's next?
First, bitcoin is holding at around $101,000 - without a clear downward slide yet, but the potential for a drop remains high.
Second, there is still a risk of new spikes: if the conflict escalates, the negative trend could intensify.
Finally, investor caution means that if the overall economic picture deteriorates and uncertainty increases, the price decline could intensify.
However, it is worth noting that the crypto market is also stabilizing due to expectations of lower inflation rates and a possible reduction in monetary risks.
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