The altcoin options market showed increased bullish activity in early June 2025, with major cryptocurrencies such as Solana (SOL), Ethereum (ETH), and Bitcoin (BTC) seeing significant call option volumes. On June 1, the market exhibited a slight bullish lean, which strengthened by June 2, with SOL and the Trump 100 index leading option flows and calls accounting for 67% of total volume. Bitcoin faced challenges, failing to maintain the $105,000 level, coinciding with escalating trade tensions as former President Donald Trump announced increased steel and aluminum tariffs. These tariff hikes contributed to $430 million in outflows breaking a 34-day positive streak for Bitcoin. Additionally, decentralized exchanges (DEXs) accounted for 25% of global spot crypto trading volume in May, exceeding $410 billion. Broader economic indicators include the M2 money supply reaching a record $21.86 trillion. The Trump team set a Wednesday deadline for final trade offers before tariffs are reinstated, although some US tariffs on Chinese goods have been delayed until August 31. Market participants are also anticipating the introduction of the Bitcoin Act and a speech by Federal Reserve Chair Jerome Powell.