The market paid for the "quarrel" between Trump and Musk. What will be the subsequent trend?

Original author: 1912212.eth, Foresight News

The cryptocurrency market experienced turbulent changes. Around 8 PM on June 5th, BTC nearly approached $106,000 but failed to break through and continued to decline. Around 4 AM on June 6th, BTC briefly dropped to $100,372, almost breaking below the $100,000 mark, and has since recovered to around $102,000. ETH failed to break through $2,800 and dropped throughout the previous evening, reaching a low of $2,381, with a 24-hour decline of over 7%, and Altcoins generally fell. According to contract data from Coinglass, the network liquidated $983 million in the past 24 hours, with long liquidations accounting for $892 million. The largest single liquidation occurred on BitMEX - XBTUSD, valued at $10 million. At market close, the Dow Jones Industrial Average dropped 108.00 points to 42,319.74, a 0.25% decline; the S&P 500 fell 31.51 points to 5,939.30, a 0.53% drop; the Nasdaq dropped 162.04 points to 19,298.45, an 0.83% decline. Tesla plummeted over 14% due to a conflict between Musk and Trump, creating a historical single-day drop. After BTC reached a new all-time high, Altcoins did not continue to rise as expected, and the market's momentum was once again interrupted. What are the reasons for this significant pullback? [The rest of the translation follows the same professional and accurate approach]