#TrumpVsMusk The feud between Donald Trump and Elon Musk is causing quite a stir in the financial and crypto markets. Here's what's happening

- *The Feud Escalates*: Elon Musk criticized Trump's spending bill, calling it the "Big Ugly Bill" and warning it could balloon the US deficit to $2.5 trillion. Trump fired back, suggesting Musk is upset about EV incentive rollbacks that hurt Tesla's profits.

- *Market Impact*: The tension between the two billionaires sparked a risk-off sentiment, unsettling both traditional and crypto investors. The global cryptocurrency market cap slid by 2.30% to $3.21 trillion, with Bitcoin (BTC) dropping 5.2% to $100,400 before rebounding to $103,644.

- *Crypto Market Consequences*: Other major tokens also took hits, including:

- *Solana (SOL)*: -5.2% to $148.03

- *XRP*: -4% to $2.14

- *Dogecoin (DOGE)*: -9% amid Musk-linked FUD

- *Liquidations*: Over $980 million in liquidations were triggered across crypto futures, with $874 million in long positions wiped out. Specifically

- *BTC longs liquidated*: $342.9 million

- *ETH longs*: $285 million

- *SOL*: $50.3 million

- *DOGE*: $27 million

- *XRP*: $23 million

This feud is adding to market volatility, and traders are keeping a close eye on the situation. Will Bitcoin break down further or is this just a calm before the next rally storm