Crypto Market Crash Today: Liquidations Surge Past $1B Amid Macro Pressure

BTCC / BTCC Square / Global Cryptocurrency /

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2025-06-06 08:23:01

The cryptocurrency market experienced a sharp decline, with total capitalization dropping 2.93% to $3.21 trillion. Trading volumes spiked 39.75% to $144.4 billion, indicating panic selling or forced liquidations. ETF outflows reached $267.1 million, while the Fear & Greed Index held steady at 46—neutral territory despite the turmoil.

Three key factors drove the selloff: a public dispute between Donald TRUMP and Elon Musk over policy bills, mass liquidations exceeding $1 billion (mostly long positions), and macroeconomic anxiety ahead of U.S. employment data. The latter could influence Federal Reserve policy, compounding market jitters.

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