#TrumpVsMusk

As of June 6, 2025, the crypto market is experiencing a downturn due to the conflict between US President Donald Trump and Tesla CEO Elon Musk.

Some news about the impact of this conflict on cryptocurrencies:

Meme coins associated with Trump and Musk, particularly Dogecoin and $TRUMP, have suffered significant losses. In particular, $TRUMP has dropped by more than 10%.

The price of Bitcoin has fallen by more than 4% to $100,500, approaching the five-digit zone.

The CoinDesk 20 index has decreased by more than 5%, with SOL and SUI losing more than 7%.

Coinbase shares fell by 4.6%, while Strategy dropped by 2.4%.

Miners MARA, RIOT, and CORZ incurred losses of about 5%.

The conflict escalated after Trump called Musk "crazy" and threatened to deprive his company of government contracts. Musk responded with allegations linking Trump to Jeffrey Epstein's affairs and called for Trump's impeachment.