#TrumpVsMusk 📉💔 Why the cryptocurrency market crashed today — June 6, 2025

The cryptocurrency market experienced a serious blow today, with major coins like Bitcoin ($BTC), Ethereum ($ETH), and Solana ($SOL) recording significant losses. Bitcoin fell by about 3.1% in the last 24 hours and is currently trading near $101,701, raising concerns in the cryptocurrency community.

What is behind this sudden crash? Let's break it down into factors 👇

1. 💥 Massive liquidations

A wave of leveraged trading was liquidated, accelerating the sell-off. As prices fell, margin calls triggered a cascade of forced selling, deepening the decline.

2. ⚔️ Elon Musk's conflict with Donald Trump

The public feud between Elon Musk and Donald Trump created political tensions and uncertainty in the market. Investors are reacting nervously, especially considering how influential both figures are in the cryptocurrency and technology space.