btc price dropped to $105,500, down from the all-time high of $111,900 last week. The other top laggards were altcoins like PancakeSwap cake-12.04%PancakeSwap, Raydium ray-12.63%Raydium, Ethena ena-16.8%Ethena, and Arbitrum arb-12.8%Arbitrum, which dropped by over 10%.

The crypto market crash triggered a wave of liquidations. CoinGlass data shows that 24-hour liquidations jumped by 125% to $709 million. Almost 224,000 traders were liquidated, with the largest loss amounting to nearly $13 million.

Cryptocurrencies retreated as Bitcoin lost momentum following its strong rally that pushed it to its all-time high last week. It is common for Bitcoin’s price to pull back slightly after hitting a record high or a crucial milestone.

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When Bitcoin sneezes, altcoins catch a cold. This explains why many altcoins have crashed even harder.

Second, Bitcoin and altcoins have declined in anticipation of June, which is typically the second-worst month for the crypto market after September. On average, Bitcoin returns -0.35% in June, as many investors take time off at the start of the summer season.

Third, there are lingering concerns about trade after a court ruled that Trump’s tariffs were illegal. Another court allowed these tariffs to continue as the administration appeals, a process that will take it to the Supreme Court.

Finally, there are signs that the Federal Reserve will hold interest rates steady at 4.50% for a while. Minutes released this week showed that officials are comfortable with a wait-and-see approach as they assess the impact of tariffs on inflation.

Is this crypto market crash the end of the bull run?

Technicals and fundamentals suggest that the crypto bull run has a long way to go. As crypto.news wrote here, the ongoing Bitcoin price action is part of the formation of the handle section of