$SOL Trump vs Musk โ Impact on Crypto Market
๐ง What Happened:
- Elon Musk criticized Donald Trumpโs spending bill, calling it โdisgusting,โ and hinted at creating a new political party โAmerica Party.โ
- Trump responded by threatening to cut off Muskโs government contracts and calling him โcrazy.โ
๐ Market Ripples:
- Tesla stock fell by ~7โ8%.
- Bitcoin dropped 4%, Ethereum 7%, Dogecoin 10%.
- Over $86 million in crypto positions liquidated in 24 hours.
๐ Why Crypto Reacted:
- Political tension increased market uncertainty.
- High-profile influencer conflict fuels volatility.
- Emotional reactions dominate short-term crypto behavior.
๐ What to Watch:
- Bitcoin rebounded above $100K after initial drop.
- More political tension could trigger additional volatility.
- Institutional investors may react to government instability.