Crypto Market Chaos: Musk-Trump Feud Triggers $800 Million in Liquidations

Elon Musk and Donald Trump’s clash on X sparked significant turbulence in the cryptocurrency market, with over $800 million in leveraged positions being liquidated. The public disagreement, which involved criticism of policies and threats to government contracts, led to substantial inflows into exchanges, as witnessed by a surge in Bitcoin (BTC) and Ethereum (ETH). This event mirrors previous market reactions to political and regulatory shocks, like the March 2023 bank crisis, where asset migration triggered widespread liquidations.