June 7, 2025 — The cryptocurrency market saw a lot of volatility this week. There were sharp price swings, news from big institutions, and regulatory changes. From Bitcoin retreating from all-time highs to Gemini’s IPO filing and the Donald Trump–Elon Musk feud, here’s a full breakdown of the week’s big crypto news.
Market Volatility and Price Movements
The main coin of the crypto market, Bitcoin (BTC), fell 6.45% to $104,743 as of June 6, compared to $111,970.17 two weeks ago. Although there has been a decline, experts are still positive. They say that if Bitcoin stays at the level of $95,000–$97,000, it could reach $120,000–$125,000 in June.
Ethereum (ETH) also dropped, falling 4% to $2,384 on June 6. But it is still up 40% for the month, as on-chain data suggests the market could pick up again.
Dogecoin (DOGE) fell 20% as fear grew in the market. Meanwhile, XRP moved above $2.20, and some believe it could go as high as $18.22–$23.20.
The total value of the entire crypto market fell 4.1% to $3.33 trillion, and daily trading volume was $142.2 billion. The Fear & Greed Index dropped to 45, indicating that investors have become more cautious.
A feud between President Donald Trump and Tesla CEO Elon Musk — triggered by Musk’s comments on the Jeffrey Epstein case — led to a 5% drop in the market on June 6. Crypto trades worth about $1 billion were liquidated on this day.
Institutional Buzz: Gemini’s IPO and Kraken’s $DOG Listing
Crypto exchange Gemini, founded by Cameron and Tyler Winklevoss, has confidentially filed for an IPO in the US. The move comes as the market is gaining renewed enthusiasm, especially after Circle’s successful NYSE debut. This shows that big investors are now starting to trust crypto.
Another major exchange, Kraken, has listed a memecoin called $DOG, which is built on the Bitcoin blockchain. This has added to the recognition of $DOG and shows that memecoins are still popular.
Not all the news was good, though — Taiwanese exchange BitoPro suffered a cyberattack, the details of which are still emerging. Coinbase has admitted to a data leak in May 2025, in which personal information of about 70,000 customers — such as their home addresses — was exposed. This has raised concerns about “crypto kidnappings.”
Changes in Regulations: New Era for Crypto
Crypto regulations also saw major changes this week. The Trump administration has taken a neutral position on crypto in retirement plans, ending the restrictions imposed by the previous Biden administration.
More than 70 applications for crypto ETFs — including Solana and Dogecoin — have been sent to the SEC for approval. This is expected to lead to new investment products. The SEC also dropped the ongoing case against Binance, which is being considered a major victory for the crypto industry.
In the US, Republican leaders are drafting a new stablecoin law and a major crypto market structure bill, which will be introduced in Congress in June. This could shift crypto oversight from the SEC to the CFTC.
The UK’s FCA has also changed its rules. Now, retail investors can buy crypto ETNs — as is the case in the US. However, crypto derivative trading is still prohibited.
Security Concerns: Crypto Kidnappings on the Rise
The rise in crypto prices has also led to a rise in dangerous cases such as “crypto kidnappings” and “wrench attacks.” A kidnapping in New York in May and the abduction of Russian crypto executives in Buenos Aires, Argentina — in which the kidnappers demanded a ransom of $43,000 — are examples of such incidents.
Insurers are now creating kidnap and ransom (K&R) policies to deal with this growing threat.
Also, a $31 million Bitcoin donation that jailed Silk Road founder Ross Ulbricht received from an AlphaBay-linked wallet sparked rumors of a darknet connection and trended heavily on X (formerly Twitter).
Blockchain Innovation and the Memecoin Craze
RedotPay is now integrated into Circle’s payment network, making crypto-to-fiat transactions easier — like sending Brazilian Reals from crypto to Brazilian banks.
Solana’s memecoin launchpad, Pump.fun, was mired in controversy after $1 billion worth of tokens were rumored to be sold there at a $4 billion valuation. This impacted Solana’s price, which fell by 3%.
Projects that saw price gains this week include BlockDAG, Cardano, Near, and Aptos. BlockDAG is set to be listed on 20 major exchanges on June 13.
The memecoin craze is still going strong, with Dogecoin and Shiba Inu leading the way.
TRUMP Coin is now holding at $10 but may potentially drop to $8.
MELANIA Coin, which was launched before the presidential inauguration, has fallen from $13 to $0.30.
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