In light of the recent escalation between US President Donald Trump and entrepreneur Elon Musk, the cryptocurrency market has experienced sharp fluctuations that have negatively impacted most digital assets.
🪙 Currencies negatively affected:
Dogecoin (DOGE): Fell by 12% over the week, including a 6% drop within 24 hours, trading around $0.18.
Bitcoin (BTC): Dropped below $101,000, with a decline of 4% during the last US trading session.
Ethereum (ETH): Recorded a loss of 6%, affected by general market fears.
Solana (SOL) and Sui (SUI): Experienced notable declines exceeding 7%, contributing to a 5% drop in the CoinDesk 20 index.
$TRUMP coin: Fell by 12%, resulting in losses estimated at around $900 million.
🌟 Currencies that may benefit or show relative stability:
$XRP , $SOL , $ADA : Included in the 'Strategic Digital Currency Reserve' announced by Trump in March 2025, which may provide it with long-term institutional support.
Bitcoin: Despite the current decline, it is viewed as a censorship-resistant asset, which may bolster its status as a safe haven during political and economic turmoil.
📝 Summary:
The conflict between Trump and Musk has led to sharp fluctuations in the cryptocurrency market, with most major assets declining. However, some currencies like XRP, Solana, and Cardano may benefit from potential institutional support, while Bitcoin remains a safe haven for investors amid the turmoil.
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