🔥Despite dropping to $92k, $BTC is back at $94k trying to b | AREWA CRYPTO on Binance Square

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🔥Despite dropping to $92k, $BTC is back at $94k trying to break the $95k resistance! (and pull the whole market with it)

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$HMSTR What is Happening ? Anyone to explain please?

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Trump and Musk clash publicly over spending bill and personal loyalty A public feud has erupted between Donald Trump and Elon Musk, with both men trading insults over social media. The spat began after Musk criticised Trump’s flagship tax and spending bill, calling it a “disgusting abomination.” Trump responded by expressing “disappointment” and accused Musk of acting out over cuts to EV subsidies. Musk denied this, saying the issue is the bill’s wasteful spending. Musk also claimed credit for Trump’s election win and Republican midterm success, adding: “Such ingratitude.” The White House condemned Musk's allegations about Trump’s alleged Epstein connections. Tesla shares fell 14% during the dispute. #TrumpVsMusk #MarketPullback

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Bitcoin dipped to $100,250 after a dramatic exchange between Musk and Trump. Musk attacked Trump’s proposals, prompting Trump to withdraw EV support. Musk responded by threatening SpaceX launches and insinuated Trump appears in Epstein files. TRUMP memecoin and Tesla stock fell sharply.

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Why is BTC’s price down? Bitcoin’s price declined 0.83% to $104,004 in the past 24 hours due to a mix of geopolitical tensions, leveraged liquidations, and technical resistance. 1. Musk-Trump clash triggered $983M liquidations, mostly long positions. 2. Bearish technical signals (RSI divergence, MACD downtrend) pressured sentiment. 3. Spot ETF outflows ($358M on May 29) reduced institutional buying support. Deep Dive 1. Primary Catalyst: Geopolitical Tensions & Liquidations The public dispute between Elon Musk and Donald Trump sparked a risk-off sentiment, leading to $983M in crypto liquidations (89% longs) within 24 hours (CoinGlass). Bitcoin’s 3% drop to $101,579 intensified selling pressure, with $114M in long positions liquidated in 12 hours alone. 2. Technical Context: Bearish Momentum Builds RSI14 at 42.52 (neutral) and MACD histogram at -1,160 signal weakening bullish momentum. Price rejected at $108,160 (23.6% Fibonacci level), now testing $103,397 support. A break below risks a slide toward $100,000 (TradingView). Declining exchange reserves (-371k BTC since April) suggest accumulation paused, reducing buy-side pressure. 3. Market Dynamics: Institutional Hesitation Spot Bitcoin ETFs saw $358M outflows on May 29, ending a 10-day inflow streak (CryptoQuant). BTC dominance rose to 63.75% as altcoins underperformed, reflecting capital rotation to stablecoins. Conclusion Bitcoin’s dip reflects a confluence of macro-driven liquidations, technical exhaustion, and reduced ETF inflows. While long-term holders (75% of addresses) remain inactive, traders should watch $103,397 support and ETF flow reversals. Will the $100K psychological level hold if geopolitical risks escalate further? #MarketPullback #SaylorBTCPurchase

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$285,000,000 liquidated from the crypto market in the past 60 minutes. That's a significant amount of liquidation in a short timeframe! A $285,000,000 drop in the crypto market within 60 minutes indicates considerable volatility and potentially negative sentiment among investors.

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