Coinbase Market Reacts to Musk-Trump Feud and Institutional Withdrawals
The cryptocurrency market experienced a significant downturn as tensions between Elon Musk and former President Donald Trump shook investor confidence. Bitcoin fell below $103,000, a 4% drop, while altcoins like Solana, SUI, Ethereum, and XRP saw even sharper declines of up to 7.25%. The TRUMP meme coin was particularly hard-hit, collapsing 9.3% during the feud. Nearly $1 billion in crypto positions were liquidated amid the turmoil, highlighting the market's sensitivity to high-profile conflicts and institutional pullbacks. This event underscores the volatile nature of digital assets and the impact of external factors on their valuation.
Crypto Market Plunges Amid Musk-Trump Clash and Institutional Pullback
The cryptocurrency market faced a sharp downturn as tensions between Elon Musk and former President Donald Trump rattled investor confidence. Bitcoin tumbled below $103,000, marking a 4% decline, while altcoins suffered even steeper losses. Solana and SUI plummeted over 7%, Ethereum dropped 7.25%, and XRP slid 4.35%. The TRUMP meme coin collapsed 9.3% during the feud.
Nearly $1 billion in crypto positions were liquidated within 24 hours, predominantly long positions. Bitcoin alone accounted for $341 million in liquidations, while spot Bitcoin ETFs saw $278 million in outflows as institutional investors retreated. Glassnode data revealed long-term Bitcoin holders began offloading assets after May's all-time high of $111,970, increasing downward pressure.
Crypto-related stocks mirrored the selloff, with Coinbase falling 4.6% and MicroStrategy declining 2.4%. Mining companies including MARA, Riot, and Core Scientific dropped approximately 5%. ethereum futures markets reflected the bearish sentiment, with open interest declining 5.5% and $260 million in long positions liquidated.
Dogecoin and Unilabs Finance Show Diverging Market Trajectories
Dogecoin's recent price correction belies underlying strength, with technical indicators suggesting potential whale accumulation NEAR the $0.18-$0.19 support zone. The meme coin, which surged past $0.24 in May before retracing 15%, now faces a critical juncture as $20 million worth of DOGE moves to Coinbase.
Meanwhile, Unilabs Finance's AI-driven platform gains momentum during its presale, positioning itself as a potential outperformer. The project's innovative investment approach contrasts with Dogecoin's speculative nature, appealing to different segments of the crypto market.
Fartcoin Surges 12% on Coinbase Listing Speculation
Fartcoin (FARTCOIN) defied broader market weakness with a 12% rally after Coinbase added the meme token to its listing roadmap. The token traded at $1.06 with record $400 million volume, entering the top 100 cryptocurrencies by market capitalization.
The Solana-based token originated as a Pump.fun joke in October 2024, minted for just 2 SOL before its anonymous creator dumped most supply. Despite lacking utility, Fartcoin developed a cult following as a satirical counterpoint to traditional financial markets, peaking at $2.68 in January.
Coinbase's roadmap typically precedes spot trading by weeks, creating speculative demand. The token's platform features meme-based rewards and novelty transaction sounds, embodying crypto's irreverent subculture that increasingly influences market movements.
Fartcoin Surges Over 14% After Coinbase Roadmap Inclusion
Fartcoin's price rallied sharply this week, climbing more than 14% following its unexpected addition to Coinbase's listing roadmap. Trading volumes spiked over 100% in 24 hours as speculative interest surged. The MOVE signals potential mainstream validation, though the absence of a confirmed listing date introduces volatility risk.
Historical patterns suggest roadmap additions often precede official listings within weeks, acting as short-term catalysts. However, the token remains vulnerable to 'buy the rumor, sell the news' behavior if execution lags. Market participants now watch for sustained momentum beyond the initial HYPE cycle.
Coinbase Listing Hype Sends Fartcoin Back Into Top 100
Fartcoin, the joke-themed token, surged 12% in a single day after Coinbase added it to its listing roadmap. While not yet officially listed, the inclusion typically precedes a live listing within weeks. Traders are betting on this pattern holding true.
The token's price soared 372% from its yearly low, with trading volume doubling to $414 million and market cap reclaiming $1 billion. This rally defies broader crypto market weakness, driven by political tensions between Donald Trump and Elon Musk over digital asset regulation.
Originally minted for just 2 SOL on Pump.fun in October 2024, FARTCOIN has evolved from meme status to cult favorite. It's now poised for its first positive quarterly return after a 132.5% Q2 gain erased Q1's 51% decline.
Fartcoin Defies Market Downturn with 15.5% Surge Amid Coinbase Listing Speculation
Fartcoin rallied sharply against broader market trends, climbing 15.5% to breach the $1.00 psychological barrier. The move follows Coinbase's inclusion of the token on its listing roadmap—a development that sparked an 80% surge in daily trading volume to $404 million across centralized and decentralized venues.
Market participants are positioning aggressively, with open interest in Fartcoin futures jumping 20% to $615 million. The altcoin's market capitalization now stands at $1 billion as traders anticipate potential liquidity tailwinds from a confirmed exchange listing. Coinbase has yet to finalize technical evaluations for the proposed addition.
