The Crypto market is becoming redder at the moment as the spit between US President Donald Trump and Tesla CEO Elon Musk intensifies.
Late on the US day, Bitcoin
Was down more than 4% to $ 100,500 and threatened to dip back into five digits for the first time in a month.
Coindesk 20 – an index for the 20 best cryptocurrencies at market value, except for exchange coins, memcoins and stableecoins – is more than 5% down in the same period. Sun and SUI are remarkable underprestors and print losses of more than 7%.
Coinbase (COIN) lost 4.6%, strategy (MSTR) slipped 2.4% on Thursday, while a few miners including Mara Holdings (Mara), Riot Platforms (Riot) and Core Scientific (Corz) LED 5% loss.
Musk and Trump’s argument, originally triggered by the potential effects of the “big, beautiful bill” on the US national debt, quickly escalated on Thursday afternoon, with the president said the Spacex founder had become “crazy” and threatened to terminate government contracts for all Musk-led companies.
The world’s richest man, for his part, wrote that Trump was implicated in the Jeffrey Epstein files, said Spacex would shut down his Dragon aircraft and agreed that a social media post called for Trump to be impeached and replaced by Vice President JD Vance. Tesla (TSLA) stock fell more than 14% on Thursday.
Circle Ipo Day
Crypto prices were already under pressure on Thursday in the middle of the euphoria on the stock exchange listing of stablecoin issuer Circle (CRCL). Those with memories remembered similar excitement around Coinbases (Coin) 2021 IPO, which at that time marked a historic top for crypto markets.
Circle, which was published at $ 31, rose to over $ 100 at a time Thursday before he closed at $ 83.
