Both Elon Musk and Donald Trump have played notable roles in shaking the crypto market, though in different ways and at different times. While neither is solely responsible for the tanking of the market, their influence has undeniably added fuel to the volatility fire.
🔍 1. Elon Musk: The Crypto Puppet Master
⚡️ Key Moments of Market Impact:
May 2021: Tesla suspends Bitcoin payments due to environmental concerns. BTC drops ~30%.
DOGE Tweets: Every meme or tweet (“Dogefather,” “Working with Doge devs”) caused wild surges or dumps.
"X" and Crypto Integration: Speculation around X (formerly Twitter) becoming a financial platform kept the market in suspense.
🎯 Elon's Influence Type
Short-term shocks through social media.
Volatility catalyst for meme coins.
een as both a visionary and troll.
🧱 2. Donald Trump: Political Weight + Anti-Crypto Bias (Until Recently)
🧨 Market-Relevant Moves
2019-2021: Trump repeatedly bashed Bitcoin and said crypto “is based on thin air.”
Regulatory Uncertainty: His administration fostered unclear policies and often viewed crypto with skepticism.
Stablecoin & China Fears: Under his presidency, fear of Chinese digital currency dominance added pressure on crypto’s legitimacy.
👀 Post-Presidency Shift:
In 2024–2025, Trump has softened, even releasing Trump-themed NFTs and showing openness to Bitcoin mining in the U.S. if re-elected — signaling a pragmatic flip
🎯 Trump’s Influence Type:
Macro-political tension, creating fear, uncertainty, and doubt (FUD).
Institutional discouragement of adoption early on.
📉 So… Did They Cause the Tanking?
✅ Partially, Yes:
Elon introduced massive emotional volatility — especially in retail-dominated coins like BTC, DOGE, SHIBA.
Trump contributed to regulatory headwinds and anti-crypto political sentiment early on.
❌ But Not Entirely:
The main culprits of the broader market crash include:
Luna/UST collapse
FTX implosion
SEC lawsuits against Binance, Coinbase
High interest rates from the Fed
Macro inflation fears
🧠 Conclusion: The Dual Blowtorch Effect
Elon made crypto manic. Trump made it political. The result? An unstable battlefield.
Together, they’ve added layers of unpredictability to an already wild market. Their future positions on crypto could still swing sentiment heavily — especially with Trump eyeing a second term and Elon slowly turning X into a fintech superapp.
