š The crypto market is experiencing heightened volatility as investors nervously watch the escalating feud between Elon Musk and President Trump. While Muskās recent threats to unseat lawmakers who back Trumpās $5 trillion spending bill still echo through Washington, real market consequences are already taking shape.
š¹ Bitcoin (BTC) has fallen by 1.27%, now trading below $107,000.
š¹ Altcoins like Ethereum are under even more pressure, with ETH struggling to stay above $2,500.
š¹ Total 24-hour liquidations surpassed $211 million, including $133.75 million in long positions.
š Market Sentiment Worsens Amid Fiscal Uncertainty
The market reflects growing concerns about inflationary pressures that may stem from Trumpās record-setting $5 trillion debt ceiling hike. The Presidentās proposed āOne Big Beautiful Billā includes massive spending and sweeping tax cuts.
In response, Elon Musk has called the bill a form of ādebt slaveryā, warning that if passed, he will launch a new political party, igniting a full-blown rivalry with his former ally, Donald Trump.
š Selling Pressure from Miners and Long-Term Holders
On-chain data shows that BTC is facing increasing selling pressure from miners and long-term holders. Analysts are flagging weakening demand and fading optimism, potentially signaling the start of a correction phase.
Ethereum is also seeing heavy whale-driven sell-offs from ICO-era holders, further dampening sentiment across altcoins.
š§ Analysis: Investors Await Political and Regulatory Clarity
While financial markets are laser-focused on Trumpās fiscal plans, the crypto community is watching how Congress will vote and what happens with the GENIUS stablecoin bill, which could introduce long-awaited clarity.
As a result, many investors are taking a wait-and-see approach, staying on the sidelines until the dust settles. Whether the MuskāTrump conflict turns into a real political showdown or fizzles out remains to be seen.
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