#TrumpVsMusk
๐๐ Why the Crypto Market Crashed Today โ June 6, 2025
The cryptocurrency market took a heavy hit today, with top coins like Bitcoin ($BTC ), Ethereum ($ETH ), and Solana ($SOL ) all posting notable losses. Bitcoin is down about 3.1% in the past 24 hours and currently trades near $101,701, sparking concern across the crypto community.
So, whatโs behind this sudden crash? Letโs break it down ๐
1. ๐ฅ Massive Liquidations
A wave of leveraged trades got liquidated, accelerating the sell-off. As prices dropped, margin calls triggered a cascade of forced selling, compounding the decline.
2. โ๏ธ Elon Musk vs. Donald Trump Feud
A public spat between Elon Musk and Donald Trump has created political tension and uncertainty in the market. Investors are reacting nervously, especially given how influential both figures are in the crypto and tech space.
3. ๐ Whale Sell-Offs
Crypto whales are offloading large positions, contributing to the downward momentum. Their actions often trigger panic among smaller investors, leading to even more selling.
