Crypto settlements arise at USD $ 1 billion during the Trump-Musk dispute

By Hannah Pérez

Bitcoin sank to the USD $ 100,000 and the liquidations in the cryptocurrency market emerged about USD $ 1 billion in the middle of the anger between Musk and Trump. Despite the attention that the dispute has generated, Trump said Friday that he is not interested in talking with the “man who has lost his head”

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• Bitcoin sank to the USD $ 100,000 area activating liquidations wave.
• Liquidations in the cryptocurrency market exceed USD $ 971m in 24 hours.
• The threats and public insults between Elon Musk and Donald Trump shake the market.
• Only Bitcoin has faced long liquidations for more than USD $ 300 million.
• Trump now says he is not interested in talking with “man who has lost his head”

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Liquidations in the cryptocurrency market momentarily emerged over USD $ 1 billion in 24 hours on Thursday after a pronounced reverse of Bitcoin and in the middle of the dispute between Musk and Trump.

The relationship between Elon Musk and Donald Trump publicly collapsed this week, altering one of the most powerful dynamics that shape Trump’s second presidential mandate in the United States, as noted New York Times.

It all started with the criticism of the multimillionaire CEO of Tesla To the Trump Budget bill, “Big Beautiful Bill”, which has been estimated to add USD $ 3.8 billion to the national debt of the United States during the next decade. Musk described the measure as a “disgusting abomination”In his X account on Tuesday.

In response, the president expressed his disappointment at a press conference, saying that Musk “I knew what the project was about”And he threatened to cancel contracts and government subsidies of Musk companies, such as Spacex and Teslawhich depend on thousands of millions in federal support. The fight climbed quickly on social networks, with both of them launching insults and public threats.

Musk immediately accused Trump of being in the archives of Jeffrey Epstein, suggesting that that was not why they had not been made public, and said that without their financial support the head of state would not have won the 2024 elections. The followed it was that Trump called him “CRAZY“

The fury of the powerful agitates the cryptocurrency market

The cryptocurrency market was hit by the confrontation of the powerful.

In the middle of a primarily bassist action, Bitcoin (BTC) slipped to the USD $ 100,000 on Thursday night (ET). The data of Coinmarketcap show that BTC played a local minimum of USD $ 100,436last seen at the beginning of May.

The largest cryptocurrency had retreated earlier yesterday from a peak close to USD $ 106,000, after reports on a call between Trump and his Chinese counterpart, Xi Jinping, which seemed to enliven the market concerns of a commercial war between the two world powers; A sign that political developments continue to weigh on the market.

The sudden posterior price action caused a wild wave of liquidations in the cryptocurrency market. For the time of writing these lines, More than USD $ 971 million leveraged positions have been eliminatedaccording to data from Coinglass. The bulk of the total – USD $ 856 million – corresponds to long positions (bullish bets).

Bitcoin By itself faces long liquidations for USD $ 305 million in 24 hours. While, Ether (ETH), which has decreased almost 6% price in the period, has seen long liquidations for just over USD $ 250 million, show the data.

Liquidations in the cryptocurrency market occur when an leverage position is automatically closed by the exchange because the inverter no longer has enough margin to cover the losses. This process is common in futures, margin or derivative operations where debt (leverage) is used to increase the size of an operation.

Trump is not interested and Bitcoin recovers

Despite the attention generated by the encounter between the two powerful, Trump has been carefree about it. In a phone call on early Friday ABC NewsTrump said he was not particularly interested in talking to Musk at this time, calling it the “man who has lost his head”

He said that Musk wants to talk to him, but that he is not ready for that, according to the report.

Bitcoin has recovered slightly from yesterday’s losses to negotiate at USD $ 104,000 on Friday at the time of writing these lines. Its price is 1.64% lower in the last 24 hours and has fallen 7.14% from the maximum price close to USD $ 112,000, conquered on May 22, according to data from Coinmarketcap.

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Hannah Estefanía Pérez / Diariobitcoin

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