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OkThe crypto market down today is making headlines, and investors are looking for answers. With big names like Elon Musk and Vitalik Buterin making bold moves—and fresh controversies shaking public trust. Let’s break down the top five news stories from June 4, 2025.
Elon Musk’s Tweet Sparks BTC Rumors
Elon Musk criticized a new Republican tax bill, calling it a “disgusting abomination.” The bill proposes $3.8 trillion in tax breaks and bans states from making AI rules for 10 years. Elon Musk Bitcoin tweet sparked fears of inflation and central control—two key arguments in favor of $BTC.
This led to speculation that Tesla may add more BTC to its portfolio. Tesla now holds 11,509 BTC, but trails far behind MicroStrategy. Still, Musk’s influence alone caused a market stir.
Trump Wallet Announcement Drama Goes Public
A post from MagicEden and GetTrumpMemes announced a new project called the $TRUMP Wallet, claiming it had links to the Trump family. Within hours, Eric Trump and Donald Trump Jr. denied any involvement, stating it’s a fake project.
Eric said he had “no knowledge” of it, while Barron Trump also posted that the family was not involved. They’ve even hinted at legal action.
Vitalik Buterin Ethereum Buy—What’s Behind It?
Ethereum’s co-founder Vitalik Buterin is in the news after he bought 296 ETH worth $783,000. Later, he sent $1.83 million in ETH and USDC to Railgun, a privacy-focused platform, according to Lookonchain data. He didn’t use his main wallet—he used a different wallet to keep the transfer private.
Buterin has always supported privacy in cryptocurrency, but such a big transaction has the community asking: Why now? Around the same time, a whale purchased over 108,000 ETH in a large OTC trade. The timing of these events is adding to the overall tension in the market.
U.S. Jobs Data Boosts Wall Street, Not Cryptocurrency
In traditional finance, the U.S. job opening news gave markets a boost. Job openings unexpectedly rose, helping the S&P 500 inch closer to 6,000, as per Wu Blockchain report. Bitcoin managed to stay above $105K, but the gains didn’t carry over to altcoins or the broader market.
While this should be positive news, investors remained cautious. For many, this created a disconnect—raising questions about why crypto market is down today despite strong economic signals.
WazirX Loses Court Battle in Singapore
Indian-origin exchange WazirX, now rebranded as Zensui, suffered a legal blow today.The Singapore High Court said no to WazirX’s request to fix its debt. This happened as rules are getting stricter for crypto companies working from outside the country. The company now has until June 30 to either get a license or shut down.
Because of this decision, many users are now worried about their money. People in Asia started selling their currencies quickly, afraid they might lose their funds.
Final Thoughts: What Caused the Crypto Crash?
The crypto market down today is the result of multiple things happening at once—unclear legal moves, privacy shifts by top developers, false project launches, and high-stakes rumors. 
But, in my opinion, crypto has survived worse. If you’re wondering why did crypto crashed, remember: behind every dip is a new opportunity. So now may be a good time to invest, but always do your own research first.

🚀 XRP Surges Amid ETF Approvals

XRP is experiencing a significant rally, reaching a monthly high of $2.36. This surge is attributed to the U.S. Securities and Exchange Commission (SEC) approving ProShares' launch of XRP futures exchange-traded funds (ETFs), set to debut on April 30. Additionally, Brazil has approved the first XRP-spot ETF, further boosting investor confidence. Projections suggest XRP could see a 55% rally if these trends continue.

🪙 Bitcoin Holds Steady Near $95K

Bitcoin is trading at $95,264, maintaining its position after recent gains. The market is buoyed by strong inflows into spot ETFs, helping to offset global trade uncertainties. Analysts anticipate that the SEC may soon approve Bitcoin spot ETFs, which could further drive demand.

⚖️ SEC vs. Ripple: Ongoing Legal Tensions

The SEC has criticized Ripple Labs' plea for a reduced penalty, contrasting it with the $4.5 billion settlement of bankrupt Terraform Labs. The SEC proposed nearly $2 billion in penalties for Ripple, including civil penalties and disgorgement. This ongoing legal battle continues to influence XRP's price movements.

📈 Market Snapshot

Cryptocurrency
Price (USD)
24h Change

Bitcoin (BTC)
$95,264
+2.45%

Ethereum (ETH)
$1,804.63
+2.37%

BNB (BNB)
$606.96
+1.10%

XRP (XRP)
$2.31
+3.59%

Cardano (ADA)
$0.71
+3.31%

XRP is currently trading at $2.28, reflecting a 3.64% increase from the previous close. The intraday high reached $2.28, while the low was $2.17.
Stock market information for XRP (XRP)
XRP is a crypto in the CRYPTO market.The price is 2.28 USD currently with a change of 0.08 USD (0.04%) from the previous close.The intraday high is 2.28 USD and the intraday low is 2.17 USD.
Market Sentiment & Key Developments
Recent developments have significantly influenced XRP's market trajectory:
ETF Launch Approval: The U.S. SEC has approved ProShares Trust's XRP ETF, with a public launch scheduled for April 30, 2025. This approval is expected to increase access for institutional and retail investors, potentially driving significant inflows and price volatility in XRP.Legal Developments: The closure of the SEC vs. Ripple case in the first quarter of 2025 has removed a major regulatory uncertainty, boosting investor confidence in XRP's future.Institutional Interest: Asset management firms, including Franklin Templeton, are seeking to launch XRP ETFs, highlighting growing institutional interest in XRP.
Technical Analysis
Analyzing XRP's recent price action reveals several key levels and patterns:
Support Levels: The $2.16 region has shown resilience, acting as a strong support zone. A breach below this level could signal further downside potential.Resistance Levels: The $2.30 to $2.35 range presents a significant resistance area. Overcoming this barrier could pave the way for a test of the $2.50 psychological level.Volume Profile: Increased trading volumes around the $2.28 mark suggest heightened market interest, potentially leading to increased volatility.Fibonacci Retracement: The 61.8% Fibonacci retracement level aligns with the $2.10 region, reinforcing its importance as a support level.
Harmonic Patterns
Current price movements exhibit characteristics of a potential Gartley pattern:
XA Leg: From $1.80 to $2.28AB Leg: Retracement to $2.10BC Leg: Rally towards $2.30CD Leg: Projection towards $2.50
This pattern suggests a bullish continuation, contingent on maintaining support above the $2.10 level.
Strategic Recommendations
Entry Point: Consider initiating long positions near the $2.16 support level, with confirmation from increased volume and bullish price action.Target Levels: Aim for price targets in the $2.30 to $2.50 range, aligning with resistance zones and harmonic projections.Stop-Loss: Place stop-loss orders below the $2.10 support level to mitigate potential downside risk.Risk Management: Maintain a risk-reward ratio of at least 1:2, adjusting position sizes accordingly to account for volatility.
tradingGPT Analysis
XRP's current trajectory is poised for a significant upward movement. The confluence of institutional investments, legal clarity, and technical patterns suggests a bullish outlook.
Immediate Action: Initiate long positions at the $2.16 support level, targeting the $2.50 resistance zone.Risk Mitigation: Implement stop-loss orders at $2.10 to protect against unforeseen market reversals.Market Sentiment: The prevailing bullish sentiment, bolstered by institutional involvement and legal resolutions, supports a favorable risk-reward scenario for long positions.
Monitor market developments closely, as any significant changes in macroeconomic conditions or regulatory landscapes could impact XRP's price trajectory.

As of April 27, 2025, Bitcoin is trading at $94,431, reflecting a 0.17% increase from the previous close. The intraday high reached $95,167, while the low was $93,767.
Stock market information for £Bitcoin (BTC)
Bitcoin is a crypto in the CRYPTO market.The price is 94431.0 USD currently with a change of 158.00 USD (0.00%) from the previous close.The intraday high is 95167.0 £USD and the intraday low is 93767.0 USD.
Market Sentiment & Key Developments
Recent developments have significantly influenced Bitcoin's market trajectory:
Institutional Investment Surge: Cantor Equity Partners, in collaboration with SoftBank, Tether, and Bitfinex, launched a $3.6 billion Bitcoin acquisition venture named Twenty One Capital. This initiative, modeled after MicroStrategy’s investment strategy, begins with 42,000 BTC, positioning it as the third-largest global reserve of the cryptocurrency.Global Economic Factors: Gold and Bitcoin reached record highs, driven by investor fears over the weakening US dollar and President Donald Trump's economic policies. Gold surged to over $3,500 per ounce, while Bitcoin topped $90,000, reflecting a shift towards alternative assets amid concerns over traditional financial systems.Regulatory Discussions: Cryptocurrency advocates in Switzerland are urging the Swiss National Bank to diversify its reserves by including Bitcoin, highlighting its potential as a hedge against inflation and political manipulation.
Technical Analysis
Analyzing Bitcoin's recent price action reveals several key levels and patterns:
Support Levels: The $93,500 region has shown resilience, acting as a strong support zone. A breach below this level could signal further downside potential.Resistance Levels: The $95,000 to $95,500 range presents a significant resistance area. Overcoming this barrier could pave the way for a test of the $100,000 psychological level.Volume Profile: Increased trading volumes around the $94,000 mark suggest heightened market interest, potentially leading to increased volatility.Fibonacci Retracement: The 61.8% Fibonacci retracement level aligns with the $92,000 region, reinforcing its importance as a support level.
Harmonic Patterns
Current price movements exhibit characteristics of a potential Gartley pattern:
XA Leg: From $85,000 to $95,000AB Leg: Retracement to $92,000BC Leg: Rally towards $95,500CD Leg: Projection towards $98,000
This pattern suggests a bullish continuation, contingent on maintaining support above the $92,000 level.
Strategic Recommendations
Entry Point: Consider initiating long positions near the $93,500 support level, with confirmation from increased volume and bullish price action.Target Levels: Aim for price targets in the $95,500 to $98,000 range, aligning with resistance zones and harmonic projections.Stop-Loss: Place stop-loss orders below the $92,000 support level to mitigate potential downside risk.Risk Management: Maintain a risk-reward ratio of at least 1:2, adjusting position sizes accordingly to account for volatility.
Trading GPT Analysis
Bitcoin's current trajectory is poised for a significant upward movement. The confluence of institutional investments, macroeconomic factors, and technical patterns suggests a bullish outlook.
Immediate Action: Initiate long positions at the $93,500 support level, targeting the $98,000 resistance zone.Risk Mitigation: Implement stop-loss orders at $92,000 to protect against unforeseen market reversals.Market Sentiment: The prevailing bullish sentiment, bolstered by institutional involvement and economic uncertainties, supports a favorable risk-reward scenario for long positions.
Monitor market developments closely, as any significant changes in macroeconomic conditions or regulatory landscapes could impact Bitcoin's price trajectory.