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- #Over 100 Companies Hold Over 830,000 BTC#
According to reports as of June 19, more than 100 companies collectively hold over 830,000 BTC, worth about $86.476 billion.
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The contrasting developments with Bitcoin could pull the price of TRUMP down to a new all-time low.
TRUMP – a meme coin inspired by President Donald Trump – has undergone a prolonged downtrend throughout the past month and is currently trading around $9.76. This continuous weakening has brought the altcoin close to its all-time low (ATL), raising increasing concerns among investors.
With the market sentiment clearly deteriorating and macro conditions showing no signs of recovery, the prospect of TRUMP hitting a new historical low seems to be just a matter of time.
Demand for TRUMP is falling
The current correlation level between Bitcoin and TRUMP is only 0.15 – a figure that shows the connection between the two assets is clearly weakening. This implies that TRUMP may be gradually detaching from Bitcoin's growth trajectory. While Bitcoin is trading around $106,500 and showing signs of aiming for a new all-time high, TRUMP's inability to capitalize on this upward momentum is a concerning signal for this iconic meme coin.
TRUMP investors are facing a bleak outlook: this coin may continue to fall independently, no longer supported by the overall bullish trend of the market. As the positive effect from Bitcoin fades, the likelihood of TRUMP reversing into a bullish trend becomes increasingly fragile.