🎉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% .
ChatGPT said:
The feud between Donald Trump and Elon Musk has had a major impact on the crypto market, particularly on Binance.
Bitcoin dropped to around $100,500, causing widespread liquidations (over $1 billion and 156,000 traders affected).
Tesla stock fell 17%, losing $100 billion in market value.
The conflict started over a proposed spending bill, with Musk criticizing it and Trump threatening to cut federal contracts with Musk's companies, adding uncertainty to the market.
Other affected assets include:
Dogecoin (DOGE): Dropped 10% after Musk stepped down from his advisory role.
Ethereum (ETH): Over $260 million in liquidations.
Solana, XRP, and Binance Coin: Saw losses ranging from 4% to 8%.
