$BTC Bitcoin eyes decline below $100,000 amid profit-taking and Trump-Musk clash

BTC's decline has been sustained by long-term holders' profit-taking, which hit $1.47 billion per day last week.

President Trump and Elon Musk's clash over the "One Big Beautiful Bill" has added macroeconomic tensions, contributing to Bitcoin's decline.

Bitcoin could crash to $92,500 if it fails to recover the $103,000 support level.

Bitcoin (BTC) declined 3% on Thursday, erasing more than $84 billion from its market capitalization as intense profit-taking from long-term holders (LTHs) and macroeconomic uncertainty impacted its price. Notably, a clash between President Donald Trump and Tesla CEO Elon Musk over the "One Big Beautiful Bill Act" has caused the top cryptocurrency to shift toward a short-term bearish outlook.