#TrumpVsMusk
📉💔 Why the Crypto Market Crashed Today — June 6, 2025
It’s been a rough day in crypto. Bitcoin ($BTC), Ethereum ($ETH), and Solana ($SOL) all took a hit, with BTC dropping 3.1% in 24 hours—now hovering around $101,701. So, what caused the sudden dip? Here’s what’s going on 👇
💥 Liquidation Cascade
Over-leveraged positions got wiped out fast. Margin calls kicked in, causing a snowball of forced selling.
⚔️ Musk vs. Trump Drama
A public feud between Elon Musk and Donald Trump is rattling markets. Tensions = uncertainty = nervous investors.
🐋 Whale Dumping
Some big players (aka whales) sold off massive chunks. That always stirs panic among retail traders.
📈 Profit-Taking
BTC was close to its ATH at $112K—so, naturally, many took profits. The sell-off snowballed from there.
🏦 Eyes on U.S. Jobs Data
Traders are bracing for the latest jobs report. Any surprises could sway Fed policy and spook risk markets like crypto.
🧮 The Damage
Crypto’s total market cap slid by $180B, now at $3.12T.
⚠️ Final Take
Yes, it’s a dip—but dips are part of the game. Whether this is a quick shakeout or a longer cooldown is still unclear. For now, fear is in the driver’s seat. Stay sharp.