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The price of Bitcoin (BTC) experienced sharp turbulence over the last 24 hours, falling nearly 3% to $100,500 before slightly rebounding to $102,180, according to CoinMarketCap. This volatility was amplified by two major forces: growing macroeconomic unease and the public clash between U.S. President Donald Trump and Tesla/SpaceX CEO Elon Musk.
$308 Million in BTC Longs Liquidated
Traders who went long on Bitcoin were caught off guard by the drop, resulting in approximately $308 million in long position liquidations, data from CoinGlass shows. The cryptocurrency fell from an intraday high of $105,915 to $100,500, setting off a wave of stop-loss triggers and forced liquidations across major exchanges.
The situation mirrored a broader crypto market sell-off, with total liquidations exceeding $982 million, of which over $891 million came from long positions.
Trump-Musk Clash Fuels Market Anxiety
The market disruption coincides with an intensifying feud between Trump and Musk. On June 5, Musk criticized Trump’s proposed global tariffs, claiming they could “cause a recession in the second half of this year.” Trump retaliated on his Truth Social platform, suggesting the cancellation of Musk’s government contracts would save the U.S. “billions and billions.”
Musk escalated the situation by announcing SpaceX would begin decommissioning its Dragon spacecraft, the only current U.S.-built vehicle for sending astronauts to space, though he later walked back the statement.
This high-profile clash has injected uncertainty into investor sentiment, particularly around federal policy direction and tech-sector stability, two areas tightly intertwined with crypto market confidence.
Long-Term Bitcoin Holders Join the Sell-Off
Adding to the selling pressure, analytics platform Glassnode reported that long-term Bitcoin holders—those holding BTC for more than 155 days—have been gradually offloading their holdings since Bitcoin’s all-time high of $111,970 on May 22.
Glassnode warned in a June 5 market update:
“With long-term holders gradually applying sell pressure, the probability of a short-term correction continues to build, particularly in the absence of a strong upside catalyst.”
These strategic exits from seasoned holders are compounding downside momentum, especially as new bullish catalysts remain elusive.
Altcoins Join in the Downturn
The sell-off wasn't limited to Bitcoin. Major altcoins also suffered:
Ethereum (ETH) fell 7.25%XRP dropped 4.35%Solana (SOL) slid 5.20%
This widespread correction suggests a broad market sentiment shift, likely influenced by macro-level fears and trader repositioning ahead of anticipated volatility.
What’s Next for Bitcoin?
Despite the short-term weakness, Bitcoin is still trading above a key psychological level of $100K, which some analysts see as a potential support zone. However, the combination of political drama, institutional uncertainty, and long-term holder exits could keep prices under pressure unless a new catalyst emerges.
The post appeared first on CryptosNewss.com
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Elon Musk's Endorsement Propels $Peanut Meme Project to 70X Growth, Reaching $10 Million Market Cap !
#ElonsMusk
Recently, a meme project called $Peanut has taken the crypto world by storm, skyrocketing by nearly 70X after a like from none other than Elon Musk on his X (formerly Twitter) account. This unprecedented growth has propelled the project to a market cap of $10 million. But what's the story behind the $Peanut meme? Let’s take a deeper look at the emotional tale that lies at the heart of this viral phenomenon.
#memecoin
The Story of Peanut
The origins of the $Peanut meme project are tied to a bittersweet story about an orphaned squirrel who became an internet sensation. Peanut, a squirrel from New York, captured the hearts of social media users after a tragic incident led to his rescue. Seven years ago, Mark Longo found Peanut after witnessing the young squirrel's mother being struck by a car in New York City. The orphaned squirrel was taken in by and quickly gained fame as a beloved pet on various social media platforms.
Peanut's antics, including performing tricks, eating waffles, and sporting cute miniature hats, amassed tens of thousands of followers, making him a social media star. However, the story took a tragic turn in recent weeks when New York authorities, acting on anonymous complaints, seized Peanut and another animal, a raccoon named Fred, from Longo’s home in Pine City, located near the Pennsylvania border.
$SOL
The seizure was part of a raid conducted by officers from the New York Department of Environmental Conservation (DEC). Despite widespread public support for Peanut’s return, including tens of thousands of signatures on an online petition, New York’s laws consider wild animals as property. As a result, both Peanut and Fred were euthanized for rabies testing, further fueling outrage among fans and animal rights advocates.
#peanut
A Viral Sensation with a Tragic End
Peanut’s untimely death has sparked a broader conversation about wildlife rehabilitation laws and the treatment of wild animals in captivity. Despite the tragedy, the $Peanut meme project has flourished, with Musk’s social media endorsement bringing attention to the cause. The meme project’s astronomical rise serves as both a tribute to Peanut's viral fame and a reminder of the complex issues surrounding wildlife conservation and care.
$MEME
As the $Peanut meme project continues to soar, it highlights the power of social media in shaping trends and influencing the crypto space. While the story of Peanut may have ended in sorrow, his legacy as a symbol of both joy and advocacy for animal rights lives on through this unexpected internet phenomenon.

In a surprising development, former U.S. President Donald Trump has announced his decision to run for office again in the 2024 presidential election. This announcement comes amid ongoing legal challenges and a turbulent political landscape. Trump, who served as the 45th President from 2017 to 2021, has positioned himself as a strong contender, emphasizing his previous achievements and criticizing current administration policies. His campaign will likely focus on themes of economic revival, immigration reform, and national security. The announcement has already sparked significant debate and speculation about its impact on the Republican primaries and the broader political scene.