On June 9, #加密市场反弹 6, Musk retweeted Trump's tweet about immigration protests on the X platform, accompanied by the American flag, ending the conflict between the two over the 'Big and Beautiful' bill—on the 5th, Trump threatened to cancel Tesla subsidies, causing its market value to evaporate by over 1.09 trillion yuan, and Musk criticized the bill for being 'passed in the dead of night.' After a coordinated call with the White House on the 6th, they reconciled.

Three major impacts on the cryptocurrency space:

• Policy Acceleration: Trump has already promoted a Bitcoin strategic reserve in March, and if he collaborates with Musk, it could expedite the vote on the 'GENIUS Act' (which requires stablecoins to disclose reserves, favorable for USDT/USDC).

• Sentiment Boost: Musk, as a 'sentiment barometer' in the cryptocurrency space, this retweet may signal a reduction in direct intervention, combined with the X platform testing cryptocurrency payment applications, could bridge on-chain and off-chain.

• Institutional Trend: Institutions predict Bitcoin could break $200,000 by the end of the year, but caution is needed regarding the SEC's regulatory volatility (delays in approving ETFs for Litecoin and others) and the risk of bans in 51 countries worldwide.