Crypto Bites | Recap 07062025
Here's a quick rundown of today's top crypto headlines:
Elon Musk vs. Trump: Is XRP the Unexpected Winner?
Social media is buzzing about a growing feud between Elon Musk and Donald Trump, and it's sending ripples through the crypto world. After Musk's jab at a spending bill and Trump's threat to pull government contracts, some believe XRP could emerge as a key player. Joshua Dalton of TRIBLU fueled the speculation, suggesting Musk might choose XRP as the primary currency for X's upcoming payment system, X Money, claiming Musk "will do anything" to make XRP the go-to token.
Bitcoin's Wild Ride: $150K or a Deep Pullback?
The Bitcoin forecast is a mixed bag. A 2021-style bearish divergence on the weekly chart hints at a potential 50%+ correction down to $64,000. Meanwhile, analyst Peter Brandt warns that Bitcoin needs to reclaim its parabolic trendline soon to avoid ending its bull cycle before hitting the $150,000 target.
Ethereum's Rebound Hopes After Pullback
Ethereum has faced a tough 24 hours, dropping over 10% amid global tensions and macroeconomic uncertainty, particularly rising US bond yields and trade conflict rhetoric between the US and China. While Bitcoin has held strong, altcoins like ETH are feeling the pressure. However, some analysts, like Ted Pillows, see this dip as an opportunity. Pillows notes that Ethereum is holding key range support and could potentially break out towards $3,000 if it regains momentum.
Trump Eyes Powell's Replacement: Bitcoin's Big Reaction
Discussions about Donald Trump potentially replacing Federal Reserve Chair Jerome Powell are back on the table, sparking significant waves across traditional and crypto markets. This speculation has Bitcoin poised to reclaim the $105,000 mark, highlighting how deeply intertwined monetary policy and crypto movements have become.
Tech Giants Exploring Stablecoin Payments
Big news for stablecoins: tech giants including Apple, X, Google, and Airbnb are reportedly in early talks with crypto firms about integrating stablecoins into their payment systems. This could be a massive step towards mainstream crypto adoption.
Hyperliquid's Record-Breaking May
Decentralized exchange Hyperliquid just hit a new all-time high, processing over $248 billion in perpetual futures volume in May. This represents a huge 51.5% month-over-month increase, capturing more than 10% of Binance's flow.
Pump.fun to Share Revenue with PUMP Token Holders
Pump.fun is considering a revenue-sharing mechanism for its upcoming PUMP token, potentially distributing a portion of platform revenue to token holders. The platform, which has generated roughly $677 million in cumulative revenue since early 2024, plans a private sale at $0.004 per token, followed by a public sale within two weeks. About 25% of tokens will be sold publicly, and 10% are reserved for an airdrop.