Overview

• Bitcoin dipped below $101,000 on Thursday for the first time in nearly a month and is trading around $100,500 on June 6.
• President Trump accused Elon Musk of going “crazy” and threatened to terminate government contracts for Musk-led companies, deepening the dispute.
• Major altcoins like Dogecoin, Solana and XRP plunged between 5% and 9%, with Dogecoin hitting its lowest level since early May.
• Circle’s shares surged from a $31 IPO price to a peak above $100 before closing at $83.23, but the rally failed to lift broader market sentiment.
• Overall cryptocurrency market capitalization has contracted by more than $170 billion following the feud’s escalation and rising economic worries.