Bitcoin closes weekly in the midst of public fight between Trump and Musk

It was one of the most entertaining days in the history of social media on Thursday when President Trump and Tesla CEO Elon Musk took it against each other on X.com. However, Bitcoin investors were less happy ….

The apparent fight probably had to do with the fact that the White House is considering abolishing the EV credit program that Tesla has made a profitable company. Musk announced last week that his time is on the government and that he will again focus on running his many companies. The Tesla shares fell by 17%on Thursday, one of the worst trading days in the history of the company.

Bitcoin and Altcoins suffer from a fight Trump and Musk

Of Bitcoin Koers plummeted during the online discussion and fell to a low point of $ 100,000 before it was up again later that evening. On Saturday evening, Bitcoin was back at the level of $ 105,000 and has risen by around 1.3% since last Friday. The weakness of Bitcoin also led to a sale and loss of support for many mega-cap crypto currencies, including Ethereum and Solana.

Positive developments around American economy and China

The economic figures that were published on Friday calmed the fear of investors about an imminent recession. The report on employment outside the agricultural sector in May was stronger than expected, since the US economy created 139,000 jobs in that month compared to analysts of 125,000. The unemployment rate remained at 4.2%in that month, the same figure as in April.

President Trump also announced that the United States and China will meet in London next week for trade discussions. All these factors were sufficient to push the stock prices higher at the weekend, with all three most important indices in the green. The S&P 500 remained at the level of 6,000 in the weekend, since the shares remained resilient in the run -up to the important quarterly options that end on 20 June.

Next week the CPI figures of May will be announced, which the Federal Reserve should offer a new data point in the run-up to the FOMC interest rate decision in June.

Altcoins remain stable while memecoins recover from recent weakness

Of Ethereum Course Fell by around 1.3% during the week and tries to regain the important support level of $ 2,500 for Saturday’s session. The world’s second largest crypto currency in terms of market capitalization has recently exhibited some relative power, but this week it cooled in the midst of the crypto sale on Thursday. After ETH dropped under $ 2,400 on Thursday, the level recovered quickly and it rose to $ 2,500 on Friday. On the graph, ETH continues to consolidate the great movement at the end of May, which looks like a promising Bull Flag that is developing on the daily period.

Solana Saw the same promotion this week as ETH and fell by around 1.7%, despite the fact that it reached the $ 150 at the closure of Friday. Although Sol performed poorly in recent days, Memecoins recovered this week after the recent relative weakness. SPX6900 rose by more than 18% this week, while Dogwifhat rose by more than 9.0%. Fartcoin had a relatively flat week, despite the addition to Coinbase as a tradable asset.

Some stronger achievements this week are among the large altcoins XRP, Sui in Hyperliquid (Hype). Hyperliquid still benefits from the remaining attention on social media that Cryptowalvis James Wynn spent on it. Sui and Hype continue to compete for the neck for eleventh place in the ranking of largest crypto currency in terms of market capitalization. Hype currently has a lead of around $ 2 million.

Circle IPO on the Markt, Robinhood left outside the reorganization of the S&P 500

Crypto shares processed recent movements this week with fairly everyday performance. Shares of Strategy (Nasdaq: MSTR) Only 1.97% increased a week. The company did not buy Bitcoin this week, but did introduce a new preferent share that will be traded under the Tickersymbol STRD. This new share pays a dividend yield of more than 11% and all the capital collected will be used to purchase new Bitcoin.

Coinbase (NASDAQ: COIN) increased by 1.55% in the week after a strong analyst assessment by Oppenheimer. The analysts maintained an outperform assessment for Coinbase and repeated the price target of $ 293 per share.

Investors in Robinhood (Nasdaq: HOOD) were disappointed on Friday, because the popular share was not added to the S&P 5000 index. After the first reports revealed that Hood would board, the share was eventually removed from the list, because the index did not make any changes to the current list of American companies. The shares of Hood rose by 13.4% a week, but fell by 6.25% in trading hours.

Owner of the USDC-Stablecoin, Circle Internet Group (NYSE: CrCl), on Friday rose by almost 50% and at a certain point reached a price of more than $ 123 per share. This is almost four times the $ 31 with which Circle opened earlier this week. Ark Invest from Cathie Wood was a large buyer of CRCL shares, even when the company closed higher at the end of the week.

It was a solid week for Bitcoin mining stocks. Shares of CleanSpark (Nasdaq: CLSK) stegen met 14%, Marathon Digital Holdings (NASDAQ: MARA) Met 12.5% ​​an Iris Energy (NASDAQ: Iron) met 16,6%, Terawulf (NASDAQ: WULF) with more than 24% and Core Scientific (Nasdaq: CORZ) met 15,4%.

Spot crypto-etf’s remained largely flat this week, since Bitcoin and other crypto currencies remained within a close bandwidth. The Ishares Bitcoin Trust (Nasdaq: Go) rose by 0.32% a week and the Ishares Ethereum Trust (Nasdaq: Etha) Light dropped by 0.74%. At the end of Friday’s final race, BlackRock owned 662.707 BTC and 1.605 million ETH.