The cryptocurrency market is experiencing volatility at the start of the week, where Bitcoin showed a slight decline amid political disagreements between Trump and Musk.
Unexpected Turn in Trump and Musk's Relationship
Recently, Donald Trump publicly praised Elon Musk, calling him a 'wonderful man.' However, as the Senate began discussing spending legislation, Musk retaliated by announcing plans to create a new political party called *The America Party* if Trump’s bill passes.
Political Threats and Election Implications
Musk also expressed his discontent on his account on platform X, accusing lawmakers of approving 'the biggest debt increase in history.' He warned that those who supported the bill would lose their primaries next year, vowing to make it happen 'if it’s the last thing I do on this earth.'
Volatility in the Cryptocurrency Market
Short-term fluctuations are observed in the cryptocurrency market, with Bitcoin slipping by 0.72% in the past 24 hours, now trading at $106,743. Other major cryptocurrencies like Ethereum, Solana, and XRP also showed mixed movements.
The conflict between Trump and Musk may negatively impact the cryptocurrency market, increasingly dependent on political factors. Current and future price fluctuations in cryptocurrencies will rely on the ongoing political situation.
