Investors who have long been in Bitcoin have seen significant losses over the past 24 hours as cryptocurrency have sank about 3%, near a retest of $ 100,000 level.
The price drop came while the dispute between US president Donald Trump and billionaire Elon Musk intensified, and those who held Bitcoin (Btc) For more than 155 days will continue to sell to lock the income.
Bitcoin price holds above $ 102,000
In the past 24 hours, Bitcoin reached $ 105,915 before falling to $ 100,500 in a few hours, According to In coinmarketcap. At the time of publication, Bitcoin holds $ 102,180.
The drop caught out the entrepreneurs outside, with approximately $ 308 million in long -term liquid position at the same time, According to In coinglass.
It came alongside an increase in public argument with Musk with Trump, with Tesla’s boss to be taken to his X platform on June 5 to Say Trump’s plan for sweeping the global tariffs “will cause backward in the second half of this year.”
Many crypto analysts share the same opinion. Swyftx lead analyst pav hundal previously told cointelegraph there is a Risk to delay US policy policies Financially erasing until they get “hard data” on the impact of Trump’s tariffs, which risk a “slowing growth.”
Trump said in a post in his fact that the social platform that the end of the Musk government’s subsidy and contract would save “billions and billions -billions of dollars” for the US government.
Musk Reply That “in connection with the President’s statement about the cancellation of my government contracts, Spacex will begin its Dragon SpaceCraft dedication,” a statement that he has walked Back Hours later.
Spacex’s Dragon Spacecraft is currently the only US choice for sending astronauts to the galaxy.
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Meanwhile, an increasing number of long -term Bitcoin holders sold their holdings after Bitcoin reached new hours of $ 111,970 on May 22, according to Crypto Analytics Firm Glassnode.
Glass node Says In a June 5 market note that “with long-term holders gradually applying the seller of pressure, the possibility of a short-term correction continues to build, especially in the absence of a strong catalyst to push Bitcoin to the above ($ 111,800).”
Meanwhile, other major cryptocurrencies have also seen sharp declines over the past 24 hours. Ether (Eth) dropped by 7.25%, XRP (XRP) fell 4.35% and Solana (Sol) slid 5.20%.
Throughout the wider crypto market, the total fluids reached $ 982.55 million in the past 24 hours, with a long position worth $ 891.63 million of that value.
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This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
