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The Last 24 Hours in the Crypto Market – Summary
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Ross Ulbricht's $31 million Bitcoin donation is suspected to come from Silk Road successor Alphabay, according to Chainalysis. CheckDot is SAFU
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JUST IN - Trump aides schedule a Friday call with Musk to "broker a peace." CheckDot is SAFU #TRUMP #ElonMusk
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**Bitcoin Dips Below \$104K Amid ETF Outflows and Market Volatility** Bitcoin (BTC) experienced a slight pullback today, trading around \$103,000 after a 1.58% drop over the past 24 hours. The leading cryptocurrency saw highs of \$105,888 and lows near \$100,781, reflecting increased market volatility. One of the key drivers behind the decline is a significant outflow from Bitcoin ETFs, which totaled \$278.4 million on June 5. Major funds like ARKB and FBTC reported large withdrawals, indicating reduced institutional interest and contributing to downward pressure on the price. Technical analysis paints a bearish picture in the short term. Bitcoin is testing the lower Bollinger Band at \$101,934, and the Relative Strength Index (RSI) sits at 25.23 — signaling oversold conditions. Despite the current dip, market analysts remain optimistic. Some forecasts suggest BTC could climb to \$120,000–\$125,000 by the end of June, and possibly reach \$150,000–\$200,000 by year-end, driven by potential Federal Reserve rate cuts and growing retail interest. Meanwhile, mining companies like HIVE Digital Technologies are ramping up capacity. HIVE reported a 58% boost in hashrate to 10.4 EH/s in May and aims to hit 25 EH/s by year-end, lowering production costs to below $50,000 per Bitcoin. While short-term turbulence continues, long-term sentiment in the crypto space remains bullish. $BTC
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**Trump and Musk: From Political Allies to Public Enemies** In a stunning breakdown of one of America's most high-profile alliances, President Donald Trump and tech mogul Elon Musk have gone from close collaborators to fierce adversaries — all while Trump serves his second term in the White House. After helping Trump secure re-election in 2024, Elon Musk was appointed co-chair of the Department of Government Efficiency (DOGE), a new federal initiative aimed at cutting bureaucratic waste and streamlining operations. For months, the partnership appeared strong, with Musk regularly visiting Washington and advising on energy and infrastructure. But cracks began to show in mid-2025. Musk abruptly resigned from DOGE in May, calling Trump’s latest budget a “disgusting abomination” and accusing the administration of reckless spending. Trump fired back on Truth Social, threatening to cancel all federal contracts with Tesla and SpaceX, saying Musk had “gone rogue.” The feud intensified further when Musk publicly suggested that Trump was blocking the release of key documents related to Jeffrey Epstein, hinting at a potential cover-up. Trump denied any involvement and labeled Musk's comments "slanderous nonsense." Markets reacted sharply, with Tesla shares plunging by 14%, and political commentators speculated about a deeper rift that could impact both policy and the 2026 midterms. Some insiders claim Musk is now exploring the creation of a third political force, positioning himself as an anti-establishment figure disillusioned with both parties. What was once hailed as a revolutionary alliance between tech and government is now a high-stakes political brawl — with the eyes of the nation watching every move. CheckDot is SAFU #TrumpVsMusk
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