Kategorie: Bitcoin News

• The Trump-Musk feud has triggered massive Bitcoin ETF outflows as the crypto market tumbles.
• Ethereum ETFs remain strong despite the broader crypto fear.
• With the Bitcoin Pepe presale ending soon, it could be the best crypto to buy now for high returns, especially once it gets listed.

The crypto market is currently navigating a wave of uncertainty triggered by the escalating feud between US President Donald Trump and billionaire Elon Musk.

As the tension between these two influential figures intensifies, investors are closely watching how their clash impacts cryptocurrency sentiment and capital flows.

This discord has already sent ripples through Bitcoin ETFs, sparking outflows and shifting investor behaviour, while other crypto assets like Bitcoin Pepe, which is currently in the final stages of its token presale, are showing surprising resilience.

Impact of the Trump-Musk feud on the crypto market

The fallout from the Trump-Musk feud has significantly influenced market sentiment, pushing the Cryptocurrency Fear & Greed Index from “Greed” to “Neutral.”

As a result, the global cryptocurrency market cap has dropped by 4% to around $3.35 trillion, as per Coingecko data.

Notably, major coins including Bitcoin (BTC), Ethereum (ETH), XRP, Binance Coin (BNB), Solana (SOL), and Cardano (ADA), among others, have registered significant drops.

Amid the worsening investor confidence, Bitcoin ETFs in the United States experienced a sharp reversal, with outflows reaching $278 million on June 5, according to Coinglass data.

Meanwhile, Ethereum ETFs have bucked this trend, continuing a 14-day streak of inflows despite the overall market jitters.

The feud itself has drawn widespread political and business attention, fracturing previously supportive alliances and raising questions about future government contracts and national programs linked to Musk’s SpaceX.

Musk’s claims of credit for Trump’s 2024 election victory, coupled with serious accusations and policy threats exchanged between the two, have intensified market nervousness.

This high-profile clash has spilled over into public discourse, stirring economic fears and influencing investor decisions across multiple asset classes, including cryptocurrencies.

Consequently, Bitcoin ETFs have borne the brunt of the sentiment shift, while Ethereum’s improving network fundamentals and strong institutional support have sustained investor interest.

The best crypto to buy as the broader market drops

Despite this turbulent backdrop, Bitcoin Pepe has emerged as the standout crypto investment amid market volatility and uncertainty.

Bitcoin Pepe is a revolutionary meme-centric Layer 2 project built on the Bitcoin blockchain, combining Solana-style scalability with Bitcoin’s unparalleled security.

Currently, Bitcoin Pepe is in its final presale stage, with just 11 days remaining before the much-anticipated listing announcement expected on June 17..

What sets Bitcoin Pepe apart is its unique PEP-20 token standard.

The project also boasts a high-growth roadmap with staking rewards and strategic partnerships.

In a market shaken by political drama and ETF outflows, Bitcoin Pepe’s blend of cutting-edge technology and strong community appeal makes it a haven for forward-looking investors.

As established cryptocurrencies struggle to maintain a bullish trend amid the Trump-Musk fallout, Bitcoin Pepe is among the fastest-growing cryptocurrencies, offering fresh excitement and genuine potential for exponential gains.

Investors seeking a crypto that merges security, usability, and meme culture should consider Bitcoin Pepe’s presale opportunity before it closes.

With the listing announcement just days away, buying now positions investors to capitalise on early adoption advantages and long-term growth prospects.

To learn more and to buy Bitcoin Pepe, check out the official website.

The post Best crypto to buy now as the crypto market reacts to the Trump-Musk feud appeared first on CoinJournal.

• Bitcoin trades above $101.5K in Asia, showing resilience despite new U.S. tariff uncertainties.
• Analysts see continued bull market, with Polymarket traders pricing a 69% chance of BTC hitting $120K by year-end.
• Pythagoras Investments’ Gabeljic notes BTC’s lower volatility compared to other digital assets amid tariff news.

Bitcoin (BTC) commenced the Asian trading day holding steady above the $101,500 mark, demonstrating resilience in the face of fresh tariff-related uncertainties emanating from the Trump administration.

While near-term volatility remains a factor, market analysts and traders appear increasingly focused on a sustained bull market through the remainder of the year, with a significant degree of confidence that Bitcoin will reach or surpass the $120,000 level, underpinned by persistent corporate buying and a notable decline in overall market volatility.

The current market environment is characterized by a degree of caution, as unexpected tariff increases announced by the Trump administration have introduced some choppiness.

“The uncertainty from unexpected tariff increases by the Trump administration is causing some volatility,” Semir Gabeljic, director of capital formation at Pythagoras Investments, acknowledged in an email to CoinDesk.

However, he emphasized Bitcoin’s relative stability amidst these pressures: “However, bitcoin remains relatively strong, with lower volatility compared to other digital assets.”

This underlying strength is further supported by a persistently bullish sentiment among institutional players.

Gabeljic highlighted this by noting that traders on the prediction market platform Polymarket are “pricing in a 69% probability that Bitcoin will hit at least $120,000 by year-end.”

This indicates a strong conviction in Bitcoin’s continued upward trajectory, despite any intermittent market headwinds.

Echoing this optimistic outlook, FlowDesk, a Paris-based market maker, shared a similar sentiment in a recent note on Telegram, even amidst recently subdued market conditions.

“The market is clearly coiling, waiting to break out of a narrow band just below all-time highs,” FlowDesk wrote in their market update note.

They also observed a “significant repositioning and rotation from Bitcoin towards altcoins,” but crucially added that “BTC’s underlying strength remains evident.”

FlowDesk also pointed to some signs of cautious market behavior, such as a modest decline in BTC funding rates on major exchanges like Binance, which typically suggests a reduction in the use of leverage by traders.

However, on-chain borrowing activity has reportedly seen renewed vigor, a potential leading indicator that some market participants are anticipating an imminent breakout.

The unwavering trend of Bitcoin accumulation

A powerful and enduring narrative bolstering the bullish case for Bitcoin is the continued and accelerating accumulation of BTC by corporate treasuries.

Listed companies now reportedly hold approximately 809,100 BTC, an amount valued at nearly $85 billion. This figure represents a near doubling of corporate Bitcoin holdings compared to a year ago.

This significant uptake is being driven by a combination of factors, including favorable regulatory shifts and recent accounting changes that now allow companies to recognize gains on their Bitcoin holdings more readily.

This trend of corporate adoption underscores a fundamental belief in Bitcoin’s long-term value proposition and its utility as a treasury reserve asset.

“The expectation of a continued strong bitcoin remains,” Gabeljic affirmed, suggesting that this institutional and corporate buying pressure is a key pillar supporting the market’s current strength and future potential.

As Bitcoin consolidates and traders navigate short-term uncertainties, the underlying accumulation by larger entities provides a strong foundation for continued optimism.

The post Bitcoin trades over $101.5K; analysts eye $120K amid corporate accumulation appeared first on CoinJournal.

• XRP open interest hits $5 billion, signalling possible breakout.
• Dogecoin jumps above $0.20 as traders rotate into meme tokens.
• Analysts forecast potential highs of $137K for BTC and $12K for ETH in 2025.

The cryptocurrency market is gaining ground again in early June 2025, with Bitcoin, Ethereum, XRP, and Dogecoin all staging notable recoveries.

As of Tuesday, June 3, Bitcoin is trading around $105,000, Ethereum has pushed past $2,600, XRP is testing $2.20, and Dogecoin is holding near $0.20.

The rally follows a weekend of sharp liquidations and reflects renewed appetite among retail and institutional traders alike.

While short squeezes and technical momentum are partly behind the surge, broader macroeconomic factors and growing speculation around crypto ETFs are playing a key role in lifting sentiment.

Bitcoin holds firm above $105,000 as whales accumulate

Bitcoin’s price action has rebounded strongly since the end of May, recovering from a series of declines that wiped nearly $1 billion in open interest.

After bottoming out near $101,000, BTC reversed course with four consecutive days of gains, briefly hitting $106,560.

As of writing, Bitcoin is trading at $105,265.

Analysts attribute the rebound to ongoing whale accumulation, with on-chain data showing that large wallets have continued to absorb selling pressure during dips.

That trend, often viewed as a precursor to further rallies, has helped BTC maintain upward momentum despite broader market fatigue.

From a macro perspective, escalating geopolitical tensions and expectations around monetary easing have bolstered Bitcoin’s image as a non-correlated asset.

With central banks signalling policy shifts and the US dollar weakening slightly, Bitcoin is increasingly seen as a hedge against volatility.

Technically, Bitcoin remains supported above $103,000, with upside targets extending to $108,000 in the near term.

If buying pressure continues, models suggest a rally toward $137,000 is possible this month, while long-term forecasts still point to a potential $400,000 valuation by 2030.

Ethereum trades near $2,615, ETF speculation boosts sentiment

Ethereum has rallied over 7% in the past three days, recovering from lows near $2,430 to reach a session high of $2,650.83.

It is currently trading at under $2,610.

Ethereum’s price momentum is supported by growing speculation that the US Securities and Exchange Commission could approve a spot Ethereum ETF in the coming weeks.

In addition to the ETF buzz, the Ethereum Foundation’s recent reorganisation has sparked fresh interest in the blockchain.

A stronger focus on protocol development and staking infrastructure has drawn both institutional and retail inflows.

Ethereum remains above its key moving averages, and chart watchers are eyeing a breakout past $2,810 to trigger further gains.

However, previous attempts to breach that level have failed, suggesting that sustained bullish pressure is needed.

Some models forecast Ethereum could test $6,000 this year, with upside potentially extending to $12,000 if institutional demand increases significantly.

XRP builds pressure above $2.19 as open interest surges

XRP is showing signs of a breakout, with the token climbing nearly 7% from weekend lows and currently hovering near $2.20.

The price reached a daily high of $2.2229 on Tuesday, driven by a sharp increase in derivatives activity. XRP is trading at $2.21 currently.

Data shows open interest in XRP contracts nearing $5 billion, signalling high expectations of a decisive move.

This surge in open positions has fuelled speculation of a short squeeze if prices climb higher.

While XRP has historically seen large price movements during periods of heightened open interest, the absence of a clear catalyst—such as news on Ripple’s legal battle or an ETF approval—makes direction uncertain.

Price models suggest XRP could reach between $4.50 and $10 by year-end if conditions align, though any downside reversal may trigger sharp corrections due to the leveraged nature of current trades.

Dogecoin spikes to $0.2013 as traders rotate into meme coins

Dogecoin is back in the spotlight, reaching an intraday high of $0.2013 after three straight days of gains. It is currently trading around $0.195.

The move reflects a common pattern during broader crypto rallies, where profits from majors like Bitcoin and Ethereum are often redirected into higher-risk meme tokens.

The Bollinger Bands for DOGE are widening, indicating increasing volatility.

Traders are watching resistance near $0.2310 as the next level to break. If DOGE fails to hold support at $0.1900, a retest of $0.17 is possible.

While DOGE remains speculative, short-term technicals suggest room for further upside if market sentiment remains bullish.

What’s driving crypto prices higher today

A mix of factors is behind the rally across major tokens.

These include renewed institutional demand, technical momentum, macroeconomic concerns, and anticipation of regulatory clarity.

The possibility of more ETF approvals and the integration of crypto in traditional finance are also boosting market confidence.

The US Federal Reserve is expected to maintain a dovish stance in the coming months, which has weakened the dollar slightly and increased the appeal of digital assets.

Additionally, falling bond yields and reduced inflation risks have encouraged traders to shift towards alternative investments, including crypto.

The post Bitcoin, Ethereum, XRP and Dogecoin soar in June rally—here’s why appeared first on CoinJournal.

• Over 150 unique scam reports filed with ReportCyber during the period.
• Average loss per victim exceeded AUD 20,000.
• Crypto ATMs in Australia surged from 40 in 2022 to over 1,800 by 2025.

Australia is facing a fresh wave of crypto-related scams, this time involving the rapid expansion of cryptocurrency ATMs across the country.

New data from ReportCyber shows that Australians lost over AUD 3.1 million to scams involving crypto ATMs between January 2024 and January 2025.

The Australian Federal Police (AFP) has now issued a warning, urging greater public awareness as these frauds increasingly target vulnerable demographics, particularly those aged over 50.

With more than 1,600 crypto ATMs now operating in the country—up from just 23 in 2019—the risk of exploitation is growing in parallel with accessibility.

Over 150 reports filed, average loss tops AUD 20,000

Between January 1, 2024, and January 1, 2025, Australia’s national cybercrime reporting platform, ReportCyber, received 150 reports specifically related to crypto ATM scams. This equates to roughly one report every two and a half days.

The total estimated losses stood at AUD 3,107,600, with an average loss of more than AUD 20,000 per incident, according to the AFP.

Authorities suggest that these numbers may only represent a fraction of the real impact. Many victims do not report their cases due to embarrassment, unawareness, or difficulty navigating the reporting process.

AUSTRAC, the national financial intelligence agency, revealed that around AUD 275 million flows through cryptocurrency ATMs annually in Australia.

A significant portion of that volume is linked to fraudulent activity, although the exact figure remains unquantified.

Lack of regulation, rising usage worsen risk

Crypto ATMs, often situated in easily accessible places such as convenience stores or next to children’s vending machines, offer convenience at the cost of security.

Bitcoin’s irreversible nature and the low identification requirements of many machines make them ideal tools for scammers.

Unlike traditional bank transactions, once crypto is sent via an ATM, there is virtually no way to recover the funds.

The problem is not isolated to Australia. In the US, the Michigan Attorney General’s Consumer Protection Division has raised similar alarms about Bitcoin ATM scams targeting older adults.

In Canada, authorities have previously flagged these machines as potential conduits for money laundering. The UK prosecuted an individual last year for operating an illegal Bitcoin ATM.

Despite global efforts to crack down on misuse, regulations governing these machines remain patchy.

Without mandatory Know-Your-Customer (KYC) procedures, scammers can exploit the anonymity and speed of crypto transfers to move illicit funds quickly and invisibly.

Scammers prey on urgency, fake officials, and emotional manipulation

Crypto ATM scams often follow well-established social engineering techniques.

The AFP highlights that scammers typically contact victims posing as government officials, bank staff, or tech support agents.

Some victims are lured through romance scams, investment promises, or job offers, often involving intense emotional manipulation and pressure to act urgently.

The victim is then instructed to withdraw cash and deposit it into a crypto ATM, often while on a live call with the scammer.

Fraudsters sometimes claim the transaction is necessary to “secure accounts” or prevent legal action.

These tactics exploit both digital illiteracy and psychological vulnerability, especially among seniors.

To combat these scams, the AFP and AUSTRAC recommend heightened public awareness and better education about cryptocurrency basics.

As Bitcoin’s value continues to rise and ATM numbers grow, experts warn that the issue could worsen without coordinated regulatory intervention.

The post Crypto ATM scams in Australia cause over AUD 3.1 million in losses appeared first on CoinJournal.

• Bitcoin falls below $104K amid heavy ETF outflows.
• Key resistance at $106K–$107K amid rebound attempts.
• Whale selling is on the rise as retail buys surge.

Bitcoin (BTC) has started June on the back foot, dipping below $104,000 to a low of $103,833.57 on June 2 as investors react to a fresh wave of ETF outflows and technical uncertainty.

Despite closing May with its highest monthly close ever near $105,700, the market mood has quickly shifted, driven by signs of distribution from whales and institutional sellers.

Bitcoin ETF outflows outweigh inflows

The six-week streak of inflows into US spot Bitcoin ETFs came to an abrupt end on May 30, when funds collectively recorded a staggering $616.22 million in outflows according to Coinglass data.

This reversal marks a sharp deviation from previous weeks, where ETF flows had reinforced the bullish narrative and contributed to Bitcoin’s 11% monthly gain.

BlackRock’s IBIT, the largest fund in the cohort, leads the exit with $430.82 million in withdrawals, even though it still maintains over $69 billion in assets under management.

Fidelity’s FBTC and ARK 21Shares’ ARKB follow suit with $113.71 million and $120.14 million in outflows, respectively, underscoring the broad-based nature of the sell-off.

Although the total cumulative inflows across all ETFs remain positive at $44.37 billion, the sudden withdrawal suggests that investors are now acting cautiously amid growing macroeconomic and technical risks.

Bitcoin price pullback

On the price charts, Bitcoin’s recent pullback from $109,000 to $103,833 has brought it below the 0.786 Fibonacci retracement of the rally to its all-time high of $112,000.

That dip reflected heavy profit-taking into the end of May, exacerbated by the rising influence of bearish technical patterns such as the death cross on the 4-hour chart.

During Monday’s European session, BTC briefly rebounded to $105,500 but quickly stalled near $105,800 — a zone that combines the 0.618 Fibonacci level with the 100 EMA, forming a critical confluence of resistance.

While the 20 EMA has been reclaimed, the price continues to struggle beneath the 50 EMA at $106,000, reinforcing the view that bulls face an uphill task in regaining upward momentum.

If Bitcoin fails to break through the resistance between $106,000 and $107,000, the downside pressure could intensify, possibly dragging the asset back to the recent low near $103,200.

Adding to the volatility is James Wynn, the controversial high-leverage trader who once again opened a $100 million BTC long at 40X leverage on Hyperliquid, with a liquidation price precariously close at $101,999.

Just these for now

Hoping BTC pulls lower but i don’t see it pic.twitter.com/wd9751v27t

— James Wynn (@JamesWynnReal) May 30, 2025

Wynn’s repeated attempts to go long on BTC have not only ended in substantial floating losses but have also fueled wider speculation-driven activity on the Hyperliquid platform.

After another failed attempt by the market to liquidate him, Wynn has announced that he has decided to give perp trading a break, further amplifying concerns of exaggerated leverage in the market.

I’ve decided to give perp trading a break.

Thank you @HyperliquidX for your hospitality. Your service, impeccable. Your platform exquisite.

Its been a fun ride. Approx $4m into $100m and then back down to a total account loss of $17,500,000.

The time has come for me to…

— James Wynn (@JamesWynnReal) June 2, 2025

On-chain metrics are sending diverging signals

Meanwhile, on-chain metrics show a divergence in behaviour between whales and retail traders, with large holders reducing exposure steadily since BTC crossed $81,000.

Retail participants, by contrast, are showing signs of buying the top, a dynamic that historically aligns with periods of short-term market corrections.

Santiment flagged increased whale activity around the May 22 peak, noting that similar past patterns typically signal local tops rather than sustainable breakouts.

Even though Bitcoin remains up 11% over the past month, relative strength index (RSI) signals have turned bearish, flashing clear divergence as price attempts to recover above key resistance zones.

At the same time, broader macro conditions continue to cast a shadow, with traders watching closely for signals from the Federal Reserve amid slowing job growth and cooling inflation.

The falling US Dollar Index could provide a short-term tailwind for Bitcoin, but analysts remain divided on whether current levels represent a springboard for a fresh rally or a prelude to further losses.

Data from Glassnode’s MVRV ratio shows BTC is trading between critical bands that historically precede local tops, with the +1σ level near $119,400 acting as a psychological ceiling for many profit-takers.

While some traders anticipate a bounce from the $100K support to as high as $113K, the risk of a deeper correction continues to dominate sentiment across both spot and derivative markets.

As June unfolds, all eyes will remain fixed on ETF flows, macro indicators, and whether Bitcoin can decisively reclaim the $106,000–$107,000 band to avoid slipping further into bearish territory.

The post Bitcoin drops below $104K as ETF outflows trigger decline fears appeared first on CoinJournal.