$BTC

As of June 6, 2025, Bitcoin (BTC) is trading around $103,265, marking a 1.24% decline over the past 24 hours. The price has fluctuated between an intraday high of $105,888 and a low of $100,781. This dip is partly attributed to heightened market volatility and a public feud between Elon Musk and Donald Trump, which has stirred uncertainty in the crypto markets, leading to significant liquidations and overleveraged positions .

Despite the short-term bearish trend, analysts maintain a cautiously optimistic outlook for Bitcoin. Technical indicators suggest that if Bitcoin can hold above the $103,000 support level, it may retest resistance levels around $112,000 in the near future . Furthermore, the overall market sentiment remains moderately bullish, with the Fear & Greed Index indicating 'Greed' .

In a significant development, Trump Media and Technology Group has filed for a Bitcoin exchange-traded fund (ETF) named the Truth Social Bitcoin ETF. If approved, this ETF would allow investors to gain exposure to Bitcoin's performance without directly owning the digital asset, potentially broadening institutional participation in the crypto market .

As the market navigates these developments, investors are advised to stay informed and exercise caution, considering both the potential for short-term volatility and the long-term growth prospects of Bitcoin.