#TrumpVsMusk

❤️The feud between Donald Trump and Elon Musk has significantly impacted the cryptocurrency market. Here's what's happening❤️

❤️Market Impact❤️

1. The crypto market dipped 3.1% in 24 hours amid the renewed feud between Elon Musk and Donald Trump.

2. Over $211 million in liquidations occurred, with $133.75 million in long liquidations.

3. Bitcoin and Ethereum recorded modest losses over the past day.

❤️Trump-Musk Conflict❤️

1. The conflict started when Musk criticized Trump's proposed One Big Beautiful Bill, calling it a debt slavery bill and vowing to form a new political party if it passes.

2. Trump responded by accusing Musk of benefiting from excessive government subsidies and hinting at revoking federal subsidies for Musk's companies, including SpaceX and Tesla.

❤️Cryptocurrency Impact❤️

1. Dogecoin:

DOGE surged 15% after Musk hinted at X's wallet integration but dropped significantly amid the Trump-Musk feud.

2. Trump-themed tokens:

TRUMP meme coins saw 200% spikes following Trump's pro-Bitcoin mining speech.

3. Bitcoin:

BTC dipped below $107,000, with nearly $200 million in crypto positions liquidated in a single day.

❤️Key Players' Influence❤️

1. Donald Trump:

Trump's influence on crypto markets is driven by his policy decisions and public statements, particularly on Bitcoin mining and CBDCs.

2. Elon Musk:

Musk's tweets and statements significantly impact cryptocurrency prices, especially Dogecoin.