Shock! Markets tumble over Trump-Musk spat, but hope bubbles up like a balloon

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Well, well, well! It’s been a wild 48 hours, folks! Millions of dollars decided they’d rather go on holiday, evaporating faster than a snowman in the Sahara, thanks to a fiery quarrel between none other than Donald Trump and Elon Musk. The markets? Oh, they ended the week looking as grumpy as a cat in a cage, all bearish and moody. 🙄💸

But hang on, don’t grab the tissues just yet! A little report from Binance, the crypto circus’ ringmaster, whispers that investors are still playing it safe – like a cautious squirrel eyeing the nut stash. They’re hoping for a soft landing (no explosions, please!) and a slow, gentle economic cooling. Still, they’re clutching their wallets tight, worried about inflation sneaking up like a sneaky ninja. 🥷💰

Trump and Musk’s Public Showdown Sends Coins on a Rollercoaster

Bitcoin (BTC), that shiny digital gold, has been bouncing between $104,000 and $106,000 all week, but then—bam!—it tumbled below $101,000 faster than a banana peel. Ether (ETH) was not spared either; it flirted briefly with falling below $2,400. Silly prices, tumbling faster than a clown at a pie-eating contest! 🎪🤡

And what about those balances? Like tiny ants, investors are flicking their crypto holdings off exchanges. Since May started, BTC and ETH balances on the trading floors have dropped by 4.3% and 7.5%. Could they be hoarding coins under their mattress? Binance thinks yes—maybe a sign of accumulation, or perhaps just a very clever game of hide-and-seek. 🐜🕵️‍♂️

Meanwhile, Bitcoin’s love affair with gold and stocks continues. Like an awkward dance partner, its correlation with the S&P 500 grew to 0.49, and with gold, it nudged up to 0.09. The digital dollar? Or just a clingy ex? Who knows! 💃💛

ETFs are the New Kids on the Block – Moving and Shaking

But wait! There’s a silver lining. Crypto ETFs are becoming the cool kids—they’re gaining serious attention from big, serious institutions. Thanks to some clever rules (which no one quite understands), staking on Proof-of-Stake networks is now considered less of a shady business. Well, that’s a relief! 🏦🤓

And JPMorgan, that old financial titan, just announced they’ll let clients use crypto ETF shares as collateral for loans. Fancy, huh? Meanwhile, Circle, the folks behind the USD Coin (USDC), winged its way onto the New York Stock Exchange, raising a hefty $1.5 billion by selling shiny new shares. Talk about a rocket ride! 🚀💵

As of today, Circle is valued at roughly $20 billion—making it the darling of the crypto world after its NYSE debut. So, don’t blink—things change faster than a giggling squirrel on a sugar rush! 🍭🐿️

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2025-06-07 15:17