$BTC 📉 Market Overview

Bitcoin experienced a notable decline on June 6, dropping below $101,000, marking a weekly loss exceeding 4%. This downturn coincided with a fallout involving Donald Trump and Elon Musk, which may have influenced investor sentiment .

Analysts suggest that Bitcoin is encountering resistance around the $108,300 level, with a recent peak at $112,000 on May 22. Katie Stockton of Fairlead Strategies notes that the current pullback indicates weakened short-term momentum, leading to a bearish short-term outlook .

🏛️ Institutional Developments

In March 2025, President Trump signed an executive order establishing a U.S. Strategic Bitcoin Reserve, positioning Bitcoin as a national reserve asset. The U.S. is now the largest known state holder of Bitcoin, estimated at approximately 200,000 BTC .