Over the past 24 hours, the crypto market saw $980M in liquidations, wiping out over 220K traders — with $876M from long positions alone.
The trigger? An escalating Trump vs. Musk clash over tariffs & fiscal policy, shaking already fragile market sentiment.
🔻BTC: $342M liquidated (90% longs)
🔻ETH: $286M liquidated
🔻SOL, XRP, DOGE also hit hard
Vincent Liu (Kronos Research):
“Trump-Musk tension, macro fears, and overleveraged markets combined to trigger the storm.”
🧐 All eyes now on the June 11 CPI & jobs data. Macro will steer the next move.
