June 6, 2025

The market has fallen again, and the main reason this time is the verbal clash between Trump and Musk, one of the most powerful and one of the richest people. Just a few months ago, they were in a honeymoon period, but suddenly, due to a bill, they started cursing each other, seemingly indicating a potential fallout. This directly led to a sharp drop in Tesla's stock and Dogecoin, and it also indirectly affected the overall market. However, in my view, this is an unexpected event, and it can be considered a very minor issue that can't even be called a black swan, so the impact is limited. The recent market is already in a period of adjustment, so experiencing a wave of decline in this situation is reasonable.

Another slightly negative thing is that Singapore's recent policy is indirectly pushing people away. The rough idea is that companies without licenses cannot engage in cryptocurrency-related work starting in June. Those who can obtain licenses are still a minority, so a group of people is destined to migrate again. I can only say that cryptocurrency workers really have it tough; just when they find a policy-friendly place, they are forced to leave again after a few years.

This situation should not have a direct impact on the cryptocurrency market, but considering that some companies may face dissolution, there will be some effects. Of course, for cryptocurrency professionals, such situations should be quite common; they were once forced to collectively migrate to Southeast Asia. After so many years and events, everyone understands that external forces can no longer kill the cryptocurrency industry, especially with Bitcoin's current market value being very different from before.

In terms of the market, this adjustment is within an acceptable range; Bitcoin is still above 100,000. Logically, this correction in Bitcoin should have a stronger impact on the overall market, but it seems to be okay for now. As for Ethereum, it has now returned to 2400 points, meaning that the pressure at 2600 points has still not been broken. Let's observe the adjustment; the second half of the year has just begun, so there is still considerable room for growth in terms of time. Let's continue to hold on.

Thank you for your attention and likes.