#CryptoSecurity101
Market Crash Today - June 6, 2025
The cryptocurrency market had a rough day. Both Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) were affected, with Bitcoin's price dropping by 3.1% over 24 hours, now hovering around $101,701. So what caused this sudden drop? Here’s what’s happening 👇
💥 Liquidation Chain
Over-leveraged positions were quickly wiped out. Margin calls emerged, leading to a wave of forced selling.
⚔️ Musk vs. Trump Drama
The public feud between Elon Musk and Donald Trump is shaking the markets. Tension = Uncertainty = Investor Anxiety.
🐋 Whale Selling
Some big players (or whales) sold massive amounts. This always triggers panic among retail traders. 📈 Profit Taking
Bitcoin's price was close to its all-time high of $112,000, so naturally, many took profits. Then, an intense wave of selling ensued.
🏦 Watch for U.S. Jobs Data
Traders are gearing up for the latest jobs report. Any surprises could impact Federal Reserve policy and spark concerns in risk markets like cryptocurrencies.
🧮 Damage
The total market capitalization of cryptocurrencies dropped by $180 billion, now standing at $3.12 trillion.
Caution is Required: Markets in Severe Decline
