Why is Bitcoin and the Crypto Market Going Down and Crashing Today?
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…
