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Quick Take The cryptocurrency market experienced over $980 million in liquidations in the past day, primarily from long positions. Analysts said the public dispute between U.S. President Trump and Elon Musk hit the already fragile and over-leveraged market, causing major sell-offs. The reported liquidation figures are based on publicly available data, which may understate the true extent of liquidations.
Bitcoin’s 900,000th block was mined on June 6, and the ecosystem is already looking forward to the one millionth block.
Shiba Inu (SHIB) dropped over 4.5% in the last 24 hours to a key support level, triggered by a massive whale sell-off.
Quick Take Analysts point to broader including Trump’s proposed legislation and rising unemployment claims as compounding factors in the market pullback. Bitcoin’s long/short ratio has tipped slightly bearish at 47/53, a potential indicator of an impending reversal. Despite the drama, institutional moves into real-world asset tokenization suggest that crypto’s long-term fundamentals remain intact, though traders warn that fragile liquidity and market memory could prolong short-term volatility.
Shiba Inu breaks key support as bearish trend raises threat of a 28% price decline MACD and RSI indicators suggest weak momentum but hint at potential short-term recovery SHIB’s daily burn rate drops 63%, threatening deflation progress and long-term supply goals
