Bitcoin Faces $100k as Trump-Musk Spat Turns Ugly and HODLers Take Profit

Discover insights within the Crypto area. This article dives into: “Bitcoin Faces $100k as Trump-Musk Spat Turns Ugly and HODLers Take Profit”.

• Bitcoin dropped over 3% to US$101,650 while Ethereum fell practically 8% and Dogecoin misplaced near 10% as main cryptocurrencies entered the purple.
• Glassnode evaluation reveals long-term holders are taking income after Bitcoin’s new all-time excessive, with earlier assist ranges now performing as resistance zones.
• Institutional momentum seems to be waning with ETF outflows and MicroStrategy’s smallest latest buy of simply US$75 million elevating issues about future shopping for strain.
• The public fallout between Elon Musk and Donald Trump over fiscal coverage has brought about Tesla shares to plunge 20% and added uncertainty to broader markets.

Prices throughout the board are down, with most main cryptocurrencies within the purple. Bitcoin misplaced greater than 3 per cent prior to now day, at present buying and selling at US$101,650 (AU$156,507).

Second-in-charge, Ethereum, was even hit even tougher shedding virtually 8 per cent, whereas Dogecoin (DOGE) dropped near 10 per cent over the previous day.

The cooldown comes after Bitcoin made a brand new all-time excessive with many longer-term holders taking income off the desk.

The crypto market is within the purple, supply: CoinMarketCap

A Glassnode heatmap exhibits that, as costs reached new highs, “the supply-dense zones that previously acted as bases of accumulation, often marked by sideways consolidation, have now turned into active selling zones”, prompting early patrons to promote at a revenue.

Bitcoin heatmap, supply: Glassnode

The most notable promoting strain has come from cohorts who amassed throughout key historic ranges: $25k–31k and $60k–73k.

Glassnode

Related: Institutional Bitcoin ETF Holdings Plunge 23% in Q1 2025 as Price Slides

Bitcoin Growth Catalyst Missing, Say Analysts

The analysts added that many of those buyers, having held via a number of bouts of volatility, are actually including to the surplus provide, which appears to be restraining any additional value beneficial properties – no less than for now.

Finally, they stated {that a} clear “upside catalyst” to push BTC previous the ATH is absent and additional short-term corrections are doubtless.

Mixed alerts additionally come from the institutional aspect, with exchange-traded funds (ETFs) displaying sturdy web outflows for the newest buying and selling day. Meanwhile, analysts at 10X Research stated they’re involved that MicroStrategy “increasingly looks tapped out”, elevating questions on additional Bitcoin shopping for.

Last week’s buy totaled simply $75 million, its smallest in latest months. All eyes shall be on whether or not they skip this weekend’s anticipated purchase, which might additional sign waning institutional momentum.

10X Research

Musk-Trump Separation Causes Tesla Share Slump

And, apart from profit-taking, there’s one other issue inflicting uncertainty in markets: the Musk-Trump friendship appears over.

Their alliance began to break down simply days in the past when Musk publicly criticised Trump’s “One Big Beautiful Bill” as fiscally irresponsible, prompting Trump to threaten federal contract cancellations for Musk’s firms.

The feud then escalated into private assaults on social media, with Musk calling Trump “ungrateful” and hinting at impeachment, whereas Trump labelled Musk “unstable” and claimed he had requested him to go away the administration.

The public fallout brought about Tesla’s shares to plunge 20 per cent, and highlighted rising ideological rifts between tech elites and MAGA-aligned policymakers.

Tesla’s share value over the previous week, supply: Google Finance

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