Main points:

• The total maximum Crypto market decreased by 2.30 % to $ 3.21 trillion on June 6, supported by Trump Musk’s runner.

• More than 980 million dollars of encryption contracts have been rated, with $ 874 million in a long period, which enhances the severity of the sale pressure.

• The total Crypto Market Cap risk a decrease of about $ 2.9 trillion after breaking a parallel parallel channel.

The joint evaluation of all cryptocurrencies has decreased by about 2.30 % over the past 24 hours to reach $ 3.21 trillion on June 6.

Let’s look closely at the factors that lead the encryption market today.

Trump Mask Manda

The encryption prices began to decline during trading hours in late New York on June 5 after a general dispute between US President Donald Trump and billionaire Elon Musk.

During the US presidential elections in the US presidential elections, billionaire exchanged sharp notes online, which led to a mood of risk between investors.

Musk targeted the recent Trump spending bill, which was called the beautiful beautiful draft law and supported calls to its isolation.

Trump responded with strong comments about the economy, saying that ending the assignments and contracts of the musk government will provide “billions and billions of dollars” to the US government.

In response, Bitcoin (BTC) decreased by up to 5.2 % to less than 100400 dollars on Bistamp before recovering to the current levels of more than $ 103,200. The decrease in BTC caused panic among the encryption investors, as the prices of cryptocurrencies drop.

ETHER (ETH) has decreased to $ 2,384 on June 6, which represents 4 % losses over the past 24 hours. XRP (XRP) and Solana (Sol) also witnessed significant losses, a decrease of 4 % and 5.2 %, respectively.

Dogecoin (Doge), which is a micoin usually associated with Eleon Musk, carries the sales, and lost 9 % of its value during the past 24 hours.

The encryption market suffers from $ 980 million in liquidation

The sale of the Cryptocurrency Market today coincides with a wave of liquidation in the futures market, with a total of 979.9 million dollars in the past 24 hours.

It is worth noting that the futures market market has witnessed a long qualifier of $ 874 million, which is the largest daytime liquidation since February 25. Traders saw the shortcomings much lower at 105 million dollars.

Bitcoin and Ether led the losses of $ 342.9 million and $ 285 million in liquidation, respectively. Solana was followed by $ 50.3 million, while Dogecoin and XRP saw $ 27 million and $ 23 million in a row.

This scale of filtering exacerbates low prices and implants fear among other participants on the market, which leads to more pressure.

Related to: The decision to reduce the Federal Reserve “strongly influence” whether Bitcoin is $ 112,000: Analyst

Analysts are now focusing on the main support areas of the main encrypted currencies, as the Axel Adler Junior has achieved that the closest support for Bitcoin is now in a short -term stand (STH) achieved about $ 97,500.

After yesterday’s explosive clash between Elon and Donald, the future Bitcoin market witnessed $ 324 million in the long position qualifiers. The closest support for the C -STH price is $ 97.5. pic.twitter.com/hjk7ztgvgu

Acladlerjr June 6, 2025

The technical collapse of the encryption market

Technically, the constant decrease in the Crypto market occurs after collapse below multi -week support at the level of $ 3.25 trillion.

The graph below shows that the market is re -testing the main support about 3.12 trillion dollars, as the averages of simple movement are converging for 50 days and 200 days. Note that the last time – the common market value of all encrypted currencies – without this level on February 24, decreased a 26 % decrease in the price.

The Relative Power Index (RSI) decreased to 45 excessive conditions in the peak at 79 on May 10, indicating an increase in the decline pressure.

If a total total of 3.12 trillion dollars decreases, the market risks a decline towards SMA for 100 days at 2.9 trillion dollars in the short term.

This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.