Switzerland’s Federal Council expects to enforce the bill on the automatic exchange of crypto information with 74 countries by late 2026, with the first exchange expected in 2027.

Switzerland greenlights crypto tax info sharing with 74 nations

Four members of Congress introduced legislation on June 6, 2025, demanding the 
first comprehensive audit of U.S. gold reserves in over 65 years amid soaring 
national debt and global gold accumulation by central banks. Gold Audit Bill 
Demands Inventory of All Federal Bullion Holdings Representatives Thomas 
Massie (R-KY), Troy Nehls (R-TX), Addison McDowell (R-NC), and […]

US Lawmakers Seek Audit of Federal Gold, Including ‘Deep Storage’

Bitcoin has continued to show strength amid rising macroeconomic uncertainty, 
with surging U.S. bond yields and escalating global tensions keeping markets 
on edge. However, recent political drama has injected new volatility into the 
crypto space. The world’s leading cryptocurrency experienced a sharp 5% 
pullback after a highly publicized clash between Elon Musk and US President 
Donald Trump unfolded on the social platform X. The dispute, centered around 
the “Big Beautiful Bill” criticized by Musk, quickly triggered reactions 
across financial markets. Related Reading: Solana Horizontal Support Under 
Pressure – Bearish Target At $142 According to top analyst Darkfost, last 
night marked the most significant shift in trader behavior on Binance so far 
in 2025. As the political spat gained attention, traders responded rapidly, 
viewing the event as a risk-off signal. The fallout was immediate in the 
derivatives market, where Binance’s net taker volume plunged from $20 million 
to -$135 million in under eight hours. This dramatic shift marks the largest 
net taker volume decline of the year, highlighting just how sensitive crypto 
traders remain to political developments. While Bitcoin holds key levels for 
now, market participants are watching closely to see if this pullback will 
deepen or become a launchpad for the next move higher. Bitcoin Rebounds From 
$100K Support But Faces Resistance Ahead Bitcoin is once again at a pivotal 
point after rebounding from the $100,000 support level and climbing to the 
$103,000 range, showing resilience despite recent volatility. The move signals 
strength among bulls, but the broader market remains cautious as all eyes turn 
to the $112,000 all-time high. A breakout above that level could ignite a new 
leg up, but failure to maintain momentum may lead to a deeper correction below 
current demand levels. Macroeconomic conditions continue to weigh on market 
sentiment, with rising US bond yields and escalating geopolitical 
tensions—particularly the public clash between Elon Musk and US President 
Donald Trump—injecting uncertainty into global risk assets. The reaction was 
clearly visible in the crypto derivatives market. Top analyst Darkfost 
reported that the net taker volume on Binance experienced a record shift, 
plunging from $20 million to -$135 million in under eight hours. This marks 
the largest decline in directional sentiment seen in 2025. The net taker 
volume reflects the imbalance between aggressive longs and shorts, and such a 
steep drop points to traders rapidly flipping bearish. This sharp reversal 
indicates fear-driven positioning. However, should Bitcoin rebound 
convincingly, it could trigger a cascade of short liquidations, potentially 
fueling a strong rally toward new highs. Related Reading: Ethereum Mirrors 
Bitcoin 2020 Breakout Setup – Historic Run Incoming? Price Action Details: 
Testing Key Level The 4-hour Bitcoin chart shows a strong rebound after 
briefly breaking below the $103,600 support level. BTC dipped as low as 
$101,159 before buyers stepped in aggressively, driving the price back to 
$103,826 at the time of writing. This bounce came precisely at the 200-period 
moving average (red line), signaling that bulls are still defending key demand 
zones despite recent volatility. The recovery candle printed with rising 
volume, suggesting renewed interest and a potential short-term trend reversal. 
However, Bitcoin still faces critical resistance ahead, with the 50, 100, and 
200 EMAs (green, blue, purple lines) now acting as dynamic resistance between 
$104,600 and $107,000. A close above these levels would confirm strength and 
could open the door for a retest of the $109,300 resistance. Related Reading: 
Solana Analyst Sets $300 Target – Can Bulls Sustain A Rally? For now, the 
price action indicates a high-stakes battle between bulls and bears. If BTC 
holds above $103,600 and builds momentum, the market could regain confidence 
and push higher. However, failure to reclaim the moving averages may signal 
exhaustion and expose the price to another retest of the $100K psychological 
level. Featured image from Dall-E, chart from TradingView

Bitcoin Sees Largest Net Taker Volume Drop Of 2025 –  Traders React To Trump-Elon Clash

The series’ website issued a notice in May warning of a “fraudulent 
cryptocurrency scheme” using its branding to lure investors.

Reality show to pit Twitch streamers against each other to win 1 BTC

Gemini’s November 2021 fundraise of $400 million valued the exchange at $7.1 
billion, though it has had challenges since.

Winklevoss' Gemini submits confidential IPO filing amid renewed investor confidence

Dogecoin took a hard hit this week as tensions flared between Elon Musk and US 
President Donald Trump. Prices slid sharply, and red numbers dominated the 
market. Traders who had been riding the hype found themselves on the losing 
end. It was a week many will remember for how politics and memes intersected 
in unexpected ways. Related Reading: $500M Bet On Solana: Education Platform 
Aims To Supercharge Its Treasury Musk And Trump Clash According to public 
posts, Elon Musk officially left the Department of Government Efficiency 
(DOGE) on Thursday. That move came after he criticized Trump’s spending bill. 
He had been co-leading that department since late 2024. Their back-and-forth 
heated up after Trump said he was “very disappointed” in Musk. 🚨TRUMP: &#8220;I&#8217;m 
very disappointed with Elon. I&#8217;ve helped him a lot. He knew the inner workings 
of the bill better than anybody sitting here. He had no problem with it. All 
of a sudden he had a problem &amp; he only developed the problem when he found out 
we&#8217;re going to cut EV mandate&#8221; pic.twitter.com/aeCcmCAODQ — DogeDesigner 
(@cb_doge) June 5, 2025 In response, Musk claimed Trump would not have won the 
election without his support. Then Trump called Musk “CRAZY” and threatened to 
cancel Tesla and SpaceX contracts. Musk fired back on X with, “Go ahead, make 
my day.” He even warned he might decommission SpaceX’s Dragon spacecraft. Musk 
Mentions Epstein Documents Based on posts on X, Musk also said that files 
about Jeffrey Epstein’s case have stayed secret because Trump’s name appears 
in them. That claim added another layer to the feud. It wasn’t just about 
spending anymore. Now there was an allegation tying the US President to sealed 
Epstein investigations. Trump replied that he would pull any contracts with 
Musk’s companies. Time to drop the really big bomb:@realDonaldTrump is in the 
Epstein files. That is the real reason they have not been made public. Have a 
nice day, DJT! — Elon Musk (@elonmusk) June 5, 2025 Dogecoin Price Plunge 
Based on reports, Dogecoin fell about 11% on Thursday alone. Over the past 
week, it was down 16% from its recent highs. Traders pointed to Musk’s 
political exit as a key factor. Many still see Dogecoin as “the people’s 
crypto” because of Musk’s early support. But without his backing in that 
government role, sentiment soured quickly. It’s a coin that has no real asset 
behind it, so any shift in hype can send prices tumbling. A drop of this size 
is rare, yet it felt inevitable once the Musk-Trump feud spilled into public 
view. Tesla Shares Slide Elon Musk’s companies did not escape the fallout. 
Tesla stock closed down 13% on Thursday. That tumble came after Trump signaled 
he would pull federal contracts from any company owned by Musk. Investors 
feared lost revenue and stiffer regulatory oversight. Tesla shares had been 
riding high this year, but angry tweets from Trump were enough to shake 
confidence. Even a short phrase on X can move markets—especially when it 
involves a figure as polarizing as Trump or Musk. Related Reading: Bitcoin 
Reserve Gets Military Nod, Senator Predicts Explosive 10-Year Surge Crypto 
Market Liquidations Meanwhile, the broader crypto market also felt a jolt. 
According to Coinglass data, total liquidations reached $982 million in a 
single day. Of that, long liquidations—bets on rising prices—totaled $881 
million. Short positions, or bets expecting prices to fall, saw losses of $100 
million. That level of liquidation is striking, and it showed how quickly 
nerves can fray when big personalities clash. Bitcoin and many altcoins slid 
alongside Dogecoin, creating a chain reaction of forced sell-offs. Featured 
image from Allison Robbert and Saul Loeb/AFP, chart from TradingView