Why is crypto market down today? Trump-Musk fallout effect
The crypto market slid sharply on Friday, June 6, shedding 5% over the past 24 hours as rising political tensions between President Donald Trump and Elon Musk sent investor confidence tumbling.
The total crypto market capitalization now stands at $3.29 trillion, down from around $4.1 trillion on June 5. According to data from Alternative, the Crypto Fear & Greed Index dropped 12 points, from 57 to 45, marking a move into “fear” territory. This decline in sentiment follows a public clash between Trump and Musk that has also weighed heavily on traditional markets.
Bitcoin (BTC) is down 3.1% and trading at $101,843 at press time. Ethereum (ETH) leads the top 10 altcoin losses with a 7.5% slide, while Solana (SOL),…
