This Crypto Boom Will Make Your Head Spin—Even Trump & Musk Can’t Stop It!

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What to know:

  • Well now, Bitcoin’s sittin’ pretty above $101.5K, like a fat cat on a sunny windowsill, despite them pesky tariff fusses. Folks are still yellin’ it’ll hit $120,000—by the end of the year, no less!
  • The $TRUMP token took a tumble—down 9%—more tangled than a cat in a yarn ball, thanks to a good ol’ fashioned feud between Trump and Musk, and the Trump family’s own internal squabble. Bless their hearts.
  • Circle’s shares went sky-high—up 167%—on their very first day of trading, showin’ that investors’ pockets are plumb full of hopes for stablecoin riches.

Good Morning, Asia. Here’s what’s makin’ a fuss in the markets:

Well, sir and madam, Bitcoin’s still ridin’ high at over $101.5K, and mind you, Asia’s just startin’ its day—yawnin’ off the Trump tariff troubles. But the real hoo-ha, say some wise men like Semir Gabeljic, is that traders are fixin’ their eyes on a bull run till the year’s end. They reckon it’ll get to $120,000, all thanks to corporations buyin’ like there’s no tomorrow and volatility droppin’ like a stone in a well.

“Trump’s tariff surprises are stirrin’ the pot,” said Gabeljic, “but Bitcoin’s holdin’ up better’n most, with less wiggle than other digital doohickeys.”

Institutional folks are still bettin’ big, with Polymarket folks sayin’ there’s a 69% chance Bitcoin will hit that $120K mark before the calendar turns. That’s about as close as a poker hand gets, I tell you.

FlowDesk, a fancy Parisian market maker, echoes the optimism—they’re waitin’ for Bitcoin to bust outta its little corner and run wild like a hound after a rabbit. They say, though, there’s been some shiftin’—money is movin’ from Bitcoin towards them noisy altcoins, but the backbone of Bitcoin is still as strong as a mule.

And, just so ya know, folks are holdin’ more Bitcoin than ever—about 809,100 coins worth a boatload of money—nearly double from last year’s stash. Thanks to some easier rules and fancy new accounting tricks, that number keeps growin’ like a weed in a crack in the sidewalk.

“The outlook’s still shiny as a new penny,” Gabeljic added with a wink.

News Roundup

$TRUMP Meme Token Takes a Nose Dive Amid Musk & Trump Family Ruckus

That there $TRUMP token, named after the President with a flair for the dramatic, dropped about 9.3%—like it got whipped with a wet rag. Meanwhile, the broader crypto market was only down about 5%—so Trump’s tokens seem to be allergic to good times.

This tumble all started when Trump and Musk got into a public spat that’d make a cat fight look tame. Trump was mad about Musk’s plans for some “Big, Beautiful Bill,” and Musk shot back threatenin’ to ground SpaceX’s Dragon—like he’s some kind of a back-alley brawler.

Things got worse when Trump’s boys threw their hats into different wars—his sons aren’t supportin’ the memecoin. They’re busy with other Ethereum ventures. That’s less a family feud and more like a barnyard scrap, I tell ya.

Circle’s Newbie Stock Skyrockets—Should We Blame Fame or Fools?

Circle’s shares, called CRCL, shot up a whopping 167% on their first go-round, closin’ at $83—just shy of their peak at $104. Folks are startin’ to whisper fears of another Coinbase-style debacle—hot start, quick fall, and then poof, gone.

Meanwhile, their stablecoins—USDC and USDT—are seein’ more action than a saloon on pay-day, with a good 22% and 13% rise in trading volume. But don’t get too comfortable—time will tell if the hype’s just flash-in-the-pan or here to stay.

U.S. Sanks a Filipino Firm in the Crypto Pig Pen

The U.S. Treasury went and sanctioned a Philippines-based tech outfit called Funnull Technology and its boss, Liu Lizhi, for runnin’ a scam worth over $200 million. They’re accused of helpin’ bad hombres run “pig butchering” schemes—scams so crooked they’d make a snake oil salesman blush.

These crooks groom victims over weeks, makin’ ‘em believe in love and trust, then swindle their hard-earned dollars into thin air. With these sanctions, Uncle Sam’s tryin’ to shut down their hideouts—least ways, that’s the plan.

Market Movements: The Good, the Bad, and the Slightly Ugly

  • BTC: Bitcoin dipped nearly 4%—kind of like a drunkard fallin’ off his stool—then bounced back above $101.5K, as market stress grows and folks start takin’ their profits.
  • ETH: Ethereum fell 4% after a stubborn resistance at $2,640 refused to give way, even with whales buyin’ up over $285 million worth of ETH, makin’ it look like a stubborn mule in a mud puddle.
  • Gold: Gold nudged up to around $3,363—probably folk lookin’ for shiny things amid weak U.S. news and U.S.-China squabbles. Silver’s comin’ on strong, too, with the ratio goin’ past 100—no small feat, I ‘spect.
  • Nikkei 225: Japan’s big steamer kept chuggin’ along, risin’ a tiny bit after a good ol’ chat between Trump and China’s Xi—like a couple of old friends sittin’ on the porch.
  • S&P 500: Wall Street folks are waitin’ and watchin’, as Trump and Musk’s sandpaper session leaves markets about as steady as a horse on a roller coaster.

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2025-06-06 04:14