Bitcoin plummeted sharply due to political tensions between Elon Musk and Donald Trump.
Bitcoin has fallen to 101,579 USD, down 3.5% in 24 hours and 4.5% over the past week.
The reasons stem not only from the market but also from a public confrontation between Elon Musk and President Donald Trump, causing investors to worry and rush to exit their positions.
This conflict has created a domino effect on both the cryptocurrency market and technology stocks.
Nearly 1 billion USD has been 'blown away' due to the liquidation of leveraged positions.
According to data from Coinglass, the total value of liquidated positions in the past 24 hours has reached 964.8 million USD, of which the majority are long positions amounting to 877 million USD.
Bitcoin accounted for 243 million USD, followed by Ethereum with 206 million USD. More than 225,000 traders were liquidated, reflecting unstable sentiment and concerns about macro risks spilling over into the cryptocurrency market.
Investors are now not only monitoring on-chain data or interest rate policies, but are also beginning to react strongly to political fluctuations that may directly impact technology and digital assets.
Will Bitcoin be able to maintain the 100,000 USD mark?
Currently, Bitcoin is fluctuating near the important psychological support level of 100,000 USD. If it continues to decline and breaks this threshold, the market could witness a wave of automatic sell-offs, pulling the price down to the 95,000–98,000 USD range.
Tensions between Trump and Musk, with threats to cut federal contracts and political accusations, have increased volatility, affecting not only Tesla stocks but also shaking the entire cryptocurrency market.