Bitcoin holds above $100,000 following Trump-Musk online spat

(MENAFN- Golin Mena) Dubai, United Arab Emirates – June 09, 2025

eToro Crypto Analyst, Simon Peters, remarks that Bitcoin narrowly stayed above the $100,000 level as the online spat between Elon Musk and President Trump spilled over from traditional markets last week.

In what had been a fairly muted week for cryptoasset price movements beforehand, as the ‘feud’ between Trump and Musk escalated on social media on Thursday, bitcoin then fell as much as 4% before finding some support at $100,400.

As news started to spread that the two could reconcile, the bitcoin price rebounded, currently trading at $105,500. Friday’s better-than-expected non-farm payrolls report also provided a further tailwind to the bitcoin price.

Looking forward to this week, inflation data in the form of CPI consumer price index and PPI producer price index could provide some volatility.

BIGGEST MOVERS

$ICP was one of the biggest movers last week, up 16% as the DFINITY Foundation (a major contributor to the Internet Computer blockchain) announced the launch of Caffeine.ai at the World Computer Summit in Zurich.

Caffeine.ai is an AI-driven platform enabling blockchain applications to be built on the ICP Internet Computer blockchain using natural language rather than traditional programming skills.

This new AI platform could attract new developers and users to ICP, boosting the ecosystem’s activity and utility.

$TRUMP was one of the worst performers last week, down 9%, following President Trump’s online spat with Elon Musk. At its lowest $TRUMP was down 17.5% but has slightly recovered as tensions between the two have calmed.

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