The crypto market is crashing today, May 30th, as traders remained concerned about trade relations between the US and China. Bitcoin price collapsed below $104,000, continuing a downfall that started last week when it jumped to a record high. 

Some of the top laggards in the crypto market were Ethena, Fartcoin, Arbitrum, Floki, Raydium, and Bonk, which plunged by over 11%. Other tokens that crashed hard were popular names like PancakeSwap, Dogwifhat, and Celestia. 

Crypto Market Crash Accelerates

The sell-off has been going on throughout the week, but the pace gained steam after Scott Bessent, the Treasury Secretary, warned that talks between the US and China had stalled…