Crypto Markets Suffer At Least $100 Million in Liquidations

Here’s an overview of today’s cryptocurrency markets:In the past 24 hours, the market has seen at least $1 billion in liquidations. This has mainly focused on Bitcoin and Ethereum bulls as the public dispute between Trump and Musk has heightened macroeconomic concerns. Bitcoin fell below $90,000 at one point, while Ethereum fell below $2,400. Although prices have partially recovered, the market remains highly nervous, awaiting the release of US Consumer Price Index (CPI) data on June 11 to determine the next direction of the trend. X (Twitter) announced a partnership with Polymarket, a prediction platform led by Musk who has publicly praised the latter for providing more accurate information than traditional news sources. Metaplanet plans to raise $5.4 billion in funds to accelerate its Bitcoin purchases and has set a goal of holding 210,000 Bitcoins by 2027, or 1% of the global supply, making it the seventh largest corporate Bitcoin owner. Yuga Labs is considering canceling ApeCoinDAO and replacing it with “ApeCo” to resolve a governance deadlock. Uber is studying stablecoins as a possible cost-effective payment solution. At the same time, technology giants such as Apple, Google and Meta are also exploring the possibility of using stablecoins.