The cryptocurrency market witnessed a significant downturn today, with major coins like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and others experiencing losses. The total crypto market capitalization sits at around $3.31 trillion, reflecting sluggish investor sentiment despite the recent record price of Bitcoin. Analysts suggest that hesitation stems from Bitcoin’s inability to break through a crucial resistance level. Adding fuel to the fire is escalating tension between Donald Trump and Elon Musk, which has resulted in a decline for Bitcoin, bringing it close to $100,000. This geopolitical tension triggered short-term volatility, erasing over $300 million in previously built long positions.