On June 6, 2025, the crypto market felt the effects of a sharp escalation in relations between US President Donald Trump and Elon Musk. The conflict, which began with Musk criticizing Trump's "One Big Beautiful Bill" legislation, escalated into a public feud filled with mutual accusations and threats.
Key market implications:
The total market capitalization of cryptocurrencies decreased by 5.1%, leading to the liquidation of positions worth about $1 billion.
Bitcoin dropped below $101,000, while Ethereum lost 6% of its value.
Dogecoin (DOGE), previously associated with Musk, fell by 7.9%.
TRUMP Coin, a meme coin associated with the president, lost $100 million in market value.
Investors are concerned about the potential implications of the conflict for the regulation of the crypto industry and future initiatives in this area. Experts note that such events highlight the high volatility of the crypto market and its sensitivity to political factors.
Conclusion: The current situation serves as a reminder of the importance of portfolio diversification and careful analysis of political risks when investing in cryptocurrencies.
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