Yesterday, Bitcoin surged to $83,000 but quickly retraced its steps, dropping back below $80,000.
This fluctuation had a ripple effect on the broader cryptocurrency market, where most altcoins experienced notable declines in the past 24 hours.
This ongoing downward trend is not isolated to the crypto space. U.S. stock markets are also experiencing losses, which some analysts attribute to a pullback in equities.
According to Anthony Pompliano, CEO of Professional Capital Management, the current market downturn could be a result of actions taken by the Trump administration.
Pompliano suggested that former President Trump and Treasury Secretary Scott Bessent may have intentionally triggered the stock market decline, aiming to pressure the Federal Reserve into reducing interest rates.
Pompliano went on to argue that this strategy could help avoid a looming $7 trillion in debt by creating favorable conditions for the bond market, citing Trump’s previous comments about high interest rates stifling economic growth. While these claims remain unproven, the U.S. markets continue to struggle, with cryptocurrencies facing even sharper losses.
The first week of July brings several important developments in the United States that could influence both traditional markets and the cryptocurrency sector.
Ric Edelman, one of the most influential voices in personal finance, has radically revised his stance on crypto allocation. After years of cautious optimism, he now believes that digital assets deserve a far larger share in investment portfolios than ever before.
In the case involving Terraform Labs and its co-founder Do Hyeong Kwon, the defense has asked the Federal Court for the Southern District of New York to extend the deadline for pretrial filings by two weeks, pushing it beyond the original date of July 1, 2025.
Coinbase has emerged as the best-performing stock in the S&P 500 for June, climbing 43% amid a surge of bullish momentum driven by regulatory clarity, product innovation, and deeper institutional interest in crypto.