BTC Is Rolling Back to Setting Stage for a Broad Rally
Bitcoin (BTC) is down 1.8% to $103,353 this week, yet still outperforming altcoins, with Ethereum (ETH) falling by 3.0% to $2,456. The broader decline across the crypto market appears to be driven in part by a high-profile clash between U.S. President Donald Trump and entrepreneur Elon Musk. Musk publicly criticized Trump’s proposed tax bill and claimed that Trump would not have been elected without his support. In response, Trump threatened to revoke federal contracts with Musk’s companies, including SpaceX and Starlink. Musk escalated the feud by referencing Trump’s name in relation to the Jeffrey Epstein case and even called for his impeachment. Trump responded by calling Musk “crazy.” Despite the fiery exchange, speculation is mounting about a possible reconciliatory phone call between the two on Friday.
Meanwhile, crypto markets are showing signs of stabilization following Thursday’s phone call between Trump and Chinese President Xi Jinping. The easing of trade tensions helped lift sentiment, and Bitcoin successfully retested support at $98,000–100,000. With the dust settling, BTC now looks poised to resume its climb toward the resistance zone at $108,000–110,000, potentially setting the stage for a broader rally across digital assets.
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