The cryptocurrency market experienced significant volatility this week following escalating tensions between Tesla CEO Elon Musk and former US President Donald Trump. Musk’s public criticism of a spending bill on social media led to a heated exchange with Trump, triggering concerns across the financial markets. The clash, amplified by Musk’s departure from a government advisory position, contributed to increased market awareness and subsequently fueled the volatility witnessed in Bitcoin and Ethereum prices. 1 billion dollars in crypto was liquidated during this period of heightened anxiety. Market sentiment is now negative as reflected in the Crypto Fear & Greed Index. Traders actively liquidated leveraged positions reflecting their strategic shift in approach and response to the volatile environment.