Crypto Suffers $1 Billion Flush As Musk-Trump Feud Shakes Bitcoin 💥
The cryptocurrency sector experienced drastic fluctuations, with Bitcoin particularly impacted, following a public dispute between Elon Musk and Donald Trump. This feud led to significant price swings and increased volatility, ultimately resulting in over $970 million in liquidations across centralized exchanges, affecting mainly long investors.
The market's turbulent conditions resulted in the biggest losses for Bitcoin and Ethereum, with the liquidation of $346 million and $286 million, respectively. Many view this widespread liquidation as a 'long squeeze,' attributed to investors betting on price increases amid an overall market decline.
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