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Dispute Between Trump and Musk Sparks Massive Surge in Obscure Meme Coin The public disagreement between former U.S. President Donald Trump and Tesla CEO Elon Musk has led to a broad correction in the crypto market, but also a significant surge in a lesser-known meme coin. The clash, centered around Trump's proposed "One Big Beautiful Bill," which Musk criticized as damaging to America's financial stability, led to a drop in Bitcoin and Ethereum's values. However, amid the chaos, a meme coin named KILL BIG BEAUTIFUL BILL (KBBB) was launched, which saw its price skyrocket by 370% in 24 hours and its market cap surpass $45 million. Investors are advised to be cautious as these tokens, driven purely by hype, offer no real utility and are notorious for their volatility. It's essential to conduct thorough research before investing in such tokens and be prepared for potential losses.

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22,500 BTC Silently Withdrawn from Exchanges in One Day Without Any Notable Price Fluctuation Bitcoin continues to be quietly withdrawn from centralized exchanges, with approximately 22,500 BTC removed on a single day in early June, despite a lack of price increase. This significant outflow suggests that large holders are moving their assets to private wallets instead of preparing them for sale. Analysis from CryptoQuant indicates this is not retail investors' speculative trading but institutions, like ETF providers and custodians, accumulating Bitcoin. The lack of a corresponding price surge could suggest a consolidation phase, with long-term conviction quietly building. While the immediate price action may seem stagnant, the continual decrease in exchange reserves indicates easing supply-side pressure. This could potentially indicate a setup for future price appreciation as selling pressure reduces. However, the market may face summer turbulence due to potential economic slowdown and political instability.

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Essential Alert for Pi Network (PI) Users and Investors: Vital Information You Should Be Aware Of The Pi Network's Core Team has provided important security advice for its users, warning them against sharing their wallet passphrases with anyone, including suspicious websites and apps. This advice comes in light of a rise in scams and phishing attacks in the cryptocurrency space. The team specifically advises users only to interact with the official wallet.pinet.com in the Pi Browser, and to always check for the purple color and PI logo in the navigation bar to discern real Pi Wallets from fakes. Users are also urged to be cautious on social media platforms, and reminded that no Pi Core Team member will ever request sensitive authentication information. The price of the PI token has seen some volatility recently, but remains just above $0.6.

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Cryptocurrency Market Plummets Amidst Trump-Musk Dispute The total cryptocurrency market cap dropped by approximately $170 billion to $3.26 trillion on June 5, marking its lowest since May 8. This downturn, which slowed in Asia's early Friday trading, is linked to the escalating feud between US President Donald Trump and SpaceX CEO Elon Musk. Musk's criticism of Trump's tariffs and Congress's spending, coupled with backlash over the cancellation of SpaceX government contracts and allegations linked to the Epstein files, contributed to the market instability. Additionally, nearly $1 billion in crypto was liquidated in the last 24 hours, affecting around 228,000 traders, predominantly in BTC long positions. Despite Bitcoin's marginal recovery to $102,800 during Asian trading on Friday, analysts predict more consolidation unless the sell-off quickens.

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Could the Expiry of $3.8B in Cryptocurrency Options Affect Market Trend? Approximately 30,700 Bitcoin options contracts, valued at around $3.2 billion, are set to expire on Friday, June 6. This event is predicted to have minimal impact on the spot markets, which have already experienced a $150 billion decline. The options contracts have a put/call ratio of 0.76, indicating a slight preponderance of long contracts. The highest open interest is at the $115,000 strike price, with $1.7 billion, and an additional $1.6 billion at the $140,000 strike price, reflecting continued bullish confidence. Simultaneously, around 241,000 Ethereum contracts, with a notional value of $624 million, are also set to expire, bringing the total value of crypto options expiring to approximately $3.8 billion. Despite recent losses, Bitcoin and Ethereum continue to maintain support levels in six figures and around $2,400 respectively.

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Bitcoin Surpasses 105,000 USDT with Daily Increase

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Bitcoin(BTC) Surpasses 105,000 USDT with a 0.65% Increase in 24 Hours

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Trump Highlights Positive Economic Indicators on Social Media

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Deutsche Bank Explores Stablecoins and Tokenized Deposits

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SEC Announces Agenda for June 9 DeFi Roundtable

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