The Impact of Trump and Musk's Dispute on the Cryptocurrency Market: A Quick Overview🚨📉
🔥 Sudden Dispute:😶🌫️
After Elon Musk's previous support for Trump, the latter publicly criticized Musk (calling him a "manipulator" and "unreliable"), sparking a wave of questions about their joint impact on the crypto market.
📌 Direct Impact:
1. Rapid Fluctuations:
- Trump's statements coincided with a drop in Bitcoin.
- Some of the coins associated with Musk (like Dogecoin DOGE) saw a slight decline (-1.5%).
2. Market Sensitivity:
- Historically, Musk's tweets cause sharp fluctuations (like Dogecoin rising 10000% in 2021).
- Trump's intervention (previously a supporter of Bitcoin) increases uncertainty.
📊 The Bigger Picture:
- Stronger Factors: US interest rate policies (Federal Reserve) and institutional adoption (like ETF) remain the primary drivers of the market currently.
- Limited Impact: The dispute is more personal than political, and neither has announced new crypto policies.
Mr. Crypto🥇
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