The prices of Bitcoin and other cryptocurrencies have dropped sharply due to the conflict between Donald Trump and Elon Musk. Let's analyze the market situation.
Bitcoin Price Decline
In the past 24 hours, the price of Bitcoin (BTC) has unexpectedly fallen to $100,372, surprising market participants. This sharp decline occurred amid the conflict between Elon Musk and Donald Trump.
Impact of Trump and Musk's Conflict
The rift between Musk and Trump has widened significantly, possibly beyond reconciliation. Musk accused Trump of pedophilia and predicted a recession during the last two quarters of this year. Such behavior may have provoked fears among investors and led to speculative selling. Several theories exist as to why cryptocurrencies have been affected by this dispute:
- Although unlikely, there are rumors about a potential impeachment of Trump stemming from these accusations.
- Musk's hostility toward Trump over tariffs may lead him to sell Bitcoin assets and initiate a negative stance toward cryptocurrencies.
- Musk's anti-crypto campaign could drive investors away from this sector.
Current Status of Cryptocurrencies
While risks are present, potential negative outcomes seem exaggerated. New tariff agreements are expected, and negotiations with China could alleviate concerns. Currently, BTC was trading around $102,500, maintaining market dominance near 64%. Meanwhile, ETH dipped below $2,500, and the total market volume surpassed $142 billion due to panic selling. Among the top 100 cryptocurrencies, LDO, TRUMP, JUP, and PEPE Coin experienced double-digit losses.
The conflict between Musk and Trump has triggered volatility in the cryptocurrency market, but the current situation may improve with a new tariff agreement.
