The cryptocurrency market experienced a sharp decline following a public feud between Elon Musk and Donald Trump, leading to significant liquidations across various exchanges. Data from Coinglass analytics reveals that over 227,000 traders were liquidated in the past 24 hours, totaling $983 million in losses, with long positions accounting for $892 million of this amount. The largest liquidation on Bitmex reached $10 million, while Bybit reported total liquidations of $353.81 million with over 90% attributed to longs. 3.5% drop in Bitcoin, trading at $102,316, and a substantial $339 million in liquidations for the largest cryptocurrency were also observed. 7% decline in Ethereum, reaching $2,445, with $284.76 million in liquidations witnessed, with long positions accounting for $260 million. This dynamic was accompanied by a significant surge in trading volume for both Bitcoin and Ethereum, potentially indicating increased activity amidst market volatility.