Musk vs. Trump Showdown Sends Crypto Markets into Turmoil—Will the Bloodbath Continue?
Crypto markets recoiled as two of the most unpredictable billionaires on the planet—Elon Musk and Donald Trump—clashed in a war of words that sent Bitcoin and altcoins tumbling. Traders scrambled for stablecoins like lifeboats on the Titanic, proving once again that crypto’s ‘decentralized’ ethos still bows to celebrity whims.
When Titans Collide
The feud lit up social media faster than a Solana transaction, with Musk’s cryptic tweets and Trump’s trademark bombast triggering algorithmic sell-offs. Meme coins—those beloved tokens of degenerate gamblers—took the hardest hits, dropping double digits while ‘serious investors’ pretended they’d never heard of them.
Silver Linings Playbook
Amid the chaos, Bitcoin maximalists smugly pointed to BTC’s relative stability (if you call a 7% drop ‘stable’). Meanwhile, decentralized exchanges saw volume spikes as traders bypassed KYC checks—because nothing says ‘financial revolution’ like panic-selling into anonymity.
As the dust settles, one truth emerges: Crypto markets still dance to the tune of rich egomaniacs. Maybe Satoshi should’ve coded a ‘ignore famous people’ function into the blockchain.
Elon Musk and Donald Trump Clash Again
The conflict between Musk and TRUMP started again after the former posted a series of tweets criticizing the bill. He called it a “debt slavery bill” and condemned its supporters.
“Every member of Congress who campaigned on reducing government spending and then immediately voted for the biggest debt increase in history should hang their head in shame!” he said.
Musk expressed his commitment to taking all necessary actions to ensure that these politicians are defeated in their primary elections next year, emphasizing his determination to hold them accountable for their actions. He also stressed that the bill could have detrimental debt implications.
“It is obvious with the insane spending of this bill, which increases the debt ceiling by a record FIVE TRILLION DOLLARS, that we live in a one-party country – the PORKY PIG PARTY!! Time for a new political party that actually cares about the people,” he posted.
The billionaire, who strongly backed Trump in the presidential elections, even called for the creation of a new political party.
“If this insane spending bill passes, the America Party will be formed the next day. Our country needs an alternative to the Democrat-Republican uniparty so that the people actually have a VOICE,” he added.
VOX POPULI
VOX DEI
80% voted for a new party https://t.co/JkeOlG7Kl4
The string of attacks prompted President Trump to respond. He accused Elon Musk of benefiting from excessive government subsidies and suggested that Musk’s businesses WOULD struggle to survive without them.
“Elon may get more subsidy than any human being in history, by far, and without subsidies, Elon would probably have to close up shop and head back home to South Africa. No more Rocket launches, Satellites, or Electric Car Production, and our Country would save a FORTUNE. Perhaps we should have Doge take a good, hard, look at this? BIG MONEY TO BE SAVED!!!” Trump wrote.
The crypto market has felt the initial tremors of this fallout. 5 of the top 10 coins have recorded losses over the past 24 hours, with Musk’s favorite, Dogecoin (DOGE), leading the dip. Bitcoin (BTC) and Ethereum (ETH) have recorded modest losses over the past day.
BeInCrypto’s analysis revealed that Bitcoin is facing downward pressure and could see additional declines if the current bearish trend continues. It is worth noting that while the impact remains contained so far, historical patterns suggest potential for deeper volatility.
In June 2025, the Musk-Trump spat saw the market fall by 5.1% and triggered nearly $1 billion in liquidations. Thus, if the conflict escalates, the market may have to bear the brunt of it.
