Investors who have gone to Bitcoin for a long time have experienced significant losses in the last 24 hours while cryptocurrency dropped by almost 3%, approaching a retest of $ 100,000.
The drop in prices occurs while the quarrel between American president Donald Trump and billionaire Elon Musk intensifies, and those who hold Bitcoin (BTC) for more than 155 days continue to sell to lock profits.
Bitcoin Price has more than $ 102,000
In the past 24 hours, Bitcoin reached $ 105,915 before falling at $ 100,500 in a few hours, according to CoinmarketCap. At the time of publication, Bitcoin holds $ 102,180.
The decline attracted offside merchants, with around 308 million dollars in long-term positions liquidated during the same period, according to Corglass.
He came alongside a climbing in Musk’s public quarrel with Trump, Tesla’s boss presenting himself on his X platform on June 5 to say that Trump’s plan to sweep the world rates “will cause a recession in the second half of this year”.
Several crypto analysts share the same opinion. SWYFTX PAV HUNDAL’s main analyst previously told Cintelegraph that there was a risk that American decision -makers delay monetary easing until they obtain “hard data” on the impact of Trump’s prices, which would risk “slowdown in growth”.
Trump said in an article on his Truth social platform that the termination of subsidies and contracts from the Musk government would save “billions and billions of dollars” for the United States government.
Musk replied that “in the light of the President’s declaration on the cancellation of my government contracts, SpaceX will immediately start to burst his dragon spacecraft”, a statement that he retreated a few hours later.
The SpaceX dragon spacecraft is currently the only American manufacturing option to send astronauts to space.
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Meanwhile, a growing number of long -term Bitcoin holders sold their assets after Bitcoin reached new summits of $ 111,970 on May 22, according to the Crypto Glassnode analysis company.
Glassnode said that in a market note on June 5, “with long-term holders gradually applying the sale pressure, the probability of a short-term correction continues to build, in particular in the absence of a strong upward catalyst to push Bitcoin decisively above [$111,800]. “”
Meanwhile, other major cryptocurrencies have also experienced strong drops in the past 24 hours. The ether (ETH) dropped by 7.25%, XRP (XRP) fell 4.35%and Solana (soil) slipped by 5.20%.
On the wider market of cryptography, total liquidations have reached $ 982.55 million in the last 24 hours, with long positions representing $ 891.63 million in this amount.
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This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
