#MarketPullback #TrumpTariffs #TrumpVsMusk #Write2Earn

The cryptocurrency market experienced a significant downturn following the public feud between Donald Trump and Elon Musk. Here are the key developments#TrumpTariffs :

- *Market Capitalization Drop*: The total crypto market capitalization fell by 5.1%, with a decline of around $170 billion to $3.26 trillion, its lowest level since May 8.

- *Liquidations*: Over $1 billion in crypto liquidations were recorded in the past 24 hours, with around 228,000 traders affected, mostly in BTC long positions.

- *Bitcoin's Price*: Bitcoin's price dropped by 2.4% to 4%, slipping to around $100,000 levels, with daily trading volumes soaring 35% to over $60 billion.

- *Altcoin Performance*: Major Altcoins like Ethereum, Solana, XRP, and Binance Coin saw significant losses, with Ethereum leading the fall. Dogecoin plummeted 7.9%, while Ethereum dropped 6.6%.

- *Spot Bitcoin ETFs*: Spot Bitcoin ETFs saw $278 million in withdrawals, contributing to the market's volatility.

- *Trader Sentiment*: The market's downturn is attributed to uncertainty and panic, with long-term holders liquidating their positions and subjecting prices to further pressure.

The public clash between Trump and Musk has rattled investor confidence, triggering a sharp decline in the crypto market. The situation remains volatile, with potential for further fluctuations.