Today, June 6, 2025, a severe downturn has been observed in the crypto market, with the total market capitalization dropping by approximately $180 billion to $3.12 trillion.

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Key Reasons for the Market Crash

1. The Feud Between Elon Musk and Donald Trump

The public dispute between Elon Musk and former U.S. President Donald Trump has left investors in uncertainty. Musk accused Trump of corruption and threatened to terminate SpaceX contracts, causing a significant shock to the market.

2. Mass Sell-off and Liquidation

Crypto "whales" (large investors) began selling their large holdings, leading to panic in the market and a rapid decline in prices.

3. Negative Technical Signals

Renowned analyst John Bollinger predicted bearish trends for Bitcoin, leading to further selling in the market.

4. Seasonal Patterns and Speculations

Some experts had already predicted a market crash between June 6 and 8, prompting investors to start selling their assets prematurely.