Bitcoin hits 55.39M holders as Musk-Trump fallout sparks short-term volatility and fuels renewed interest across crypto markets.
Ethereum leads with 148.38M holders while Bitcoin adoption grows steadily, reflecting strong investor confidence despite market drama.
Social chatter around Elon Musk and Donald Trump drove Bitcoin volatility, highlighting the power of public sentiment in price movements.
Bitcoin’s holder count surged to an all-time high of 55.39 million on June 5, 2025. Ethereum led with 148.38 million holders, strengthening its dominance. This spike in crypto adoption came despite market turbulence triggered by a public rift between Elon Musk and Donald Trump. The tension between the two influential pro-crypto figures stirred major reactions across the community. While some dismissed it as drama, others feared long-term bearish implications. The market briefly reflected this fear. Bitcoin’s price dipped sharply to $100.5K but quickly rebounded to $105.4K. This suggests the incident may become a “sell the rumor, buy the news” event.
Bitcoin Grows Steadily While Ethereum Maintains the Lead
Ethereum’s yellow line remained dominant in 2024 and into 2025, showing unmatched holder growth. It experienced a dramatic surge in November 2024. Besides Ethereum, Bitcoin’s adoption grew consistently throughout the year without sharp fluctuations. The red line on Santiment’s data showed stable growth. Consequently, Bitcoin appeared more resilient than other assets, despite volatility. Dogecoin, however, showed major holder count swings during the same period.
Source: Santiment
Meanwhile, Tether (USDT) recorded 7.79 million holders. XRP followed with 6.53 million wallet addresses. Cardano (ADA) had 4.49 million holders, and USD Coin (USDC) logged 3.30 million. Chainlink (LINK) remained the smallest among the top eight with 766,010 total holders. All networks showed net positive growth from June 2024 to June 2025. Hence, the data signals rising mainstream interest across major blockchain ecosystems.
Social Volume Spikes Align With Bitcoin Price Swings
Significantly, social media discussions exploded as Bitcoin dipped on June 6. Santiment’s data highlighted soaring mentions of Musk and Trump. Blue bars represented Elon Musk mentions, while red bars tracked Trump references. These mentions spiked heavily in late May and early June.
Additionally, Bitcoin traded between $95K and $110K during this period. The coin reached $100K, a psychological support level, before its quick bounce back. Hence, the data suggests that social sentiment directly impacted price movements.
Source: Santiment
Moreover, Bitcoin posted a 3.9% gain from previous sessions. The price recovery aligned with sustained public discussions. Consequently, market observers see social dominance as a strong sentiment gauge. Combining social signals with technical trends may help forecast future price shifts.
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