Well, would you look at that? Bitcoin has decided to be the world’s most stubborn inflatable, bouncing around mostly sideways all week, seemingly immune to the latest dramatic headlines in the economy. It’s like watching a particularly dull game of pinball — only the ball refuses to bounce.
Stocks Play the Water Treadmill as Bitcoin Hits the Snail’s Pace
Our good friend Donald Trump (or rather, the guy who plays him in the finance drama) announced he’d just finished a “very good phone call” with Chinese leader Xi Jinping on Thursday morning. Stocks shot upward like a champagne cork, but Bitcoin (BTC) barely noticed, barely budging, and then, as if on cue, stocks decided to retreat faster than a bad joke at a dinner party.
“I just concluded a very good phone call with President Xi, of China, discussing some of the intricacies of our recently made, and agreed to, trade deal,” Trump declared, as if he was announcing the secret to eternal youth. This trade deal from May — which involved scrapping the “triple-digit retaliatory tariffs” that made everyone miserable — was mentioned with the kind of pride usually reserved for winning sandwiches at a fair. “The call lasted approximately one and a half hours and resulted in a very positive conclusion for both countries,” he added, sounding uncertain about whether anyone actually understood what that meant.
Initially, stock markets jumped like kids on caffeine, with the S&P 500, Nasdaq, and Dow all climbing around 0.4% to 0.7%, thanks to this trade tidbit. But those gains? Gone faster than the last slice of pizza at a party. Meanwhile, crypto’s star player, bitcoin, took a tiny tumble — down 1.84% — and is now hanging out just below the $104,000 mark. Talk about indecisive.
Adding to the rollercoaster of the day, a shiny new IPO by Circle (NYSE: CRCL), a company that issues stablecoins — whatever those are — managed a rather impressive $1.05 billion. Yet, despite this flashy debut, Bitcoin and its crypto cousins looked on dispassionately, the overall crypto market losing about 2.24%, shrinking to a cat-loving, trillion-dollar mountain of $3.24 trillion. Ah, the sweet smell of market apathy.
Market Metrics: The Numbers That Might Make You Yawn
Bitcoin’s price slipped 1.84% in the last 24 hours to a meager $103,517.75 (roughly), extending a week-long slide of about 3%. The price has been bouncing between roughly $103,484 and $105,937, looking as confused as a cat in a cucumber factory. Traders, evidently, are just waiting for something — anything — to shake up this snooze-fest.
Trading volume, which is basically the amount of Bitcoin hopping from one wallet to another, plummeted 8.06% to $41.84 billion. Bitcoin’s market cap — the grand total value of all that shiny crypto stuff — declined by 1.85% to $2.05 trillion. Interestingly, Bitcoin’s dominance in the crypto chaos inched up 0.08% to 64.21%, suggesting the lesser-performing altcoins are perhaps feeling shy or just unamused. Futures markets, that’s where investors go to pretend they know what’s happening, edged 0.4% higher to $71 billion — steady as a heartbeat, really.
The brave new world of margin trading — where borrowed money makes everything more exciting — saw some drama today. Total liquidations (that’s traders getting wiped out and forced to sell their positions) started off modest at about $83,770, but later skyrocketed to a staggering $12.93 million. The long-position bulls, who believed the price would rise, got their dreams dashed as they were liquidated for $12.84 million. Meanwhile, shorts — those betting on a price drop — were barely bothered, with only about $84,390 getting swept away. It was like a financial version of “whoops, I underestimated the flood,” only with more zeros.
Read More
- Best Awakened Hollyberry Build In Cookie Run Kingdom
- AI16Z PREDICTION. AI16Z cryptocurrency
- Tainted Grail the Fall of Avalon: Should You Turn in Vidar?
- Best Mage Skills in Tainted Grail: The Fall of Avalon
- Nintendo Offers Higher Margins to Japanese Retailers in Switch 2 Push
- Top 8 UFC 5 Perks Every Fighter Should Use
- Nintendo Switch 2 Confirms Important Child Safety Feature
- Nintendo May Be Struggling to Meet Switch 2 Demand in Japan
- Nintendo Dismisses Report On Switch 2 Retailer Profit Margins
- Nvidia Reports Record Q1 Revenue
2025-06-05 21:34