The cryptocurrency market has achieved great success today, as both major players such as Bitcoin, XRP, Ethereum and Solaa are suffering. One of the unexpected factors contributing to the decline of the day is a general dispute between Elon Musk and Donald Trump. The two Barzan people exchanged some sharp observations online, creating a sudden amount of stress.
Musk took the goal of Trump’s previous differences and even called for his isolation, while Trump responded with strong comments on the economy. Although this drama may look like another day in the main headlines, it has definitely made investors tense and sent ripples through both traditional markets and encryption.
Stock markets were carefully opened today, which made traders bet that the prices of cryptocurrencies will continue to decline. More traders open short functions, which leads to additional pressure on the market and causes low prices.
Bitcoin drops, tracking altcoins
Currently, the roof of the global cryptocurrency market is located at $ 3.18 trillion, which reflects a 3.42 % decrease in the past 24 hours. The Fear & Greed Index is 46, which indicates a neutral feeling in the market, while the Altcoin season index is low at 23 out of 100.
Bitcoin is trading at $ 101,895 after a decrease of 2.77 % in the past 24 hours. Ethereum decreased to $ 2,424, a decrease of approximately 7 %, while Solaa is priced at $ 145.39 after a decrease of more than 5 %. XRP decreased to $ 2.10, Dogecoin took one of the most difficult visits, and about 9 % decreased to $ 0.1720.
Despite this recession, analysts believe that this acute reaction may be short -term. Tensions between Musk and Trump can reach soon, which may help stabilize prices. Bitcoin’s decisive support area ranges between $ 100,700 and $ 98,000. If the market is able to keep this range, it may enter a stage of side trading before trying to rebound.
