Rektnomics

#TrumpVsMusk 🎉The feud between Donald Trump and Elon Musk has significantly impacted the crypto market, particularly on Binance. Here's what's happening: 🎉Market Impact:🎉 1. Bitcoin Price Drop: Bitcoin's price fell to approximately $100,500, leading to widespread liquidations. 2. Crypto Liquidations: Over $1 billion in liquidations occurred, with more than 156,000 traders affected. Binance saw significant liquidations, although exact figures aren't specified for the exchange. 3. Tesla Stock Plummet: Tesla's stock dropped around 17%, wiping out about $100 billion in market value. 🎉Key Players:🎉 1. Trump-Musk Feud: The public disagreement between Trump and Musk centered around a proposed congressional spending bill, with Musk criticizing the bill and Trump threatening to cut federal contracts with Musk's companies. 2. Market Sentiment: The feud has introduced additional uncertainty into the market, contributing to investor unease and a sharp downturn in crypto markets. 🎉Other Affected Assets:🎉 1. Dogecoin (DOGE): DOGE plummeted 10% and 22% for the week, largely due to Musk's apparent departure from his DOGE advisory role. 2. Ethereum (ETH): Ethereum saw over $260 million in long position liquidations, reflecting heightened volatility. 3. Other Cryptocurrencies: Solana, XRP, and Binance Coin also faced losses ranging from 4% to 8% .