#TrumpVsMusk Why Crypto Market is Down Today??

As of June 6, 2025, the cryptocurrency market is experiencing a downturn due to a combination of factors:

1. Large-Scale Liquidations: Approximately $964 million in crypto positions were liquidated, contributing to a sharp decline in prices.

2. Musk-Trump Feud: A public dispute between Elon Musk and former President Donald Trump has unsettled investors, leading to negative sentiment in both stock and crypto markets.

3. Whale Sell-Offs: Significant holders of cryptocurrencies, often referred to as "whales," have been offloading assets, increasing selling pressure.

4. Technical Weakness and ETF Inflows: Bitcoin's price has shown technical weakness, and inflows into Bitcoin ETFs have cooled, indicating reduced institutional interest.