{"id":30524,"date":"2025-06-06T06:17:38","date_gmt":"2025-06-06T06:17:38","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=30524"},"modified":"2025-06-06T06:17:38","modified_gmt":"2025-06-06T06:17:38","slug":"crypto-markets-see-red-as-trump-musk-bromance-ends-in-flames","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=30524","title":{"rendered":"Crypto Markets See Red as Trump-Musk Bromance Ends in Flames\u00a0\u00a0"},"content":{"rendered":"<div>\n<p>Total crypto market capitalization declined by around $170 billion in a fall to $3.26 trillion on June 5, its lowest level since May 8, almost a month ago.<\/p>\n<p><a href=\"https:\/\/cryptopotato.com\/will-3-8b-crypto-options-expiry-impact-market-momentum\/\" data-wpel-link=\"internal\">Markets<\/a> are now poised for a further fall below longer-term levels if current support levels break down. However, the decline slowed during early trading in Asia on Friday morning, with a minor recovery to $3.3 trillion.<\/p>\n<h2>Donald vs Elon<\/h2>\n<p>The sharp decline appears to have been driven by a spat between US President Donald Trump and tech billionaire Elon Musk, who <a href=\"https:\/\/x.com\/elonmusk\/status\/1930722828481098043\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\">said<\/a> the former\u2019s tariffs \u201cwill cause a recession in the second half of this year,\u201d and \u201cCongress is spending America into bankruptcy!\u201d on June 5.<\/p>\n<p>As the war of words on each of their respective social media networks escalated, and the bromance collapsed, Musk also <a href=\"https:\/\/x.com\/elonmusk\/status\/1930718684819112251\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\">said<\/a>:<\/p>\n<blockquote>\n<p>\u201cIn light of the President\u2019s statement about the cancellation of my government contracts, SpaceX will begin decommissioning its Dragon spacecraft immediately.\u201d<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">In light of the President\u2019s statement about cancellation of my government contracts, <a href=\"https:\/\/twitter.com\/SpaceX?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">@SpaceX<\/a> will begin decommissioning its Dragon spacecraft immediately <a href=\"https:\/\/t.co\/NG9sijjkgW\" data-wpel-link=\"external\" target=\"_blank\">pic.twitter.com\/NG9sijjkgW<\/a><\/p>\n<p>\u2014 Elon Musk (@elonmusk) <a href=\"https:\/\/twitter.com\/elonmusk\/status\/1930718684819112251?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">June 5, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>For more than a week, Elon Musk has been trashing Trump\u2019s signature piece of legislation, a spending bill called One Big Beautiful Bill.<\/p>\n<blockquote>\n<p>\u201cI don\u2019t mind Elon turning against me, but he should have done so months ago. This is one of the Greatest Bills ever presented to Congress,\u201d <a href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/114632555927229642\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\">said<\/a> Trump on Truth Social.<\/p>\n<\/blockquote>\n<p>However, the clearly riled billionaire Tesla CEO didn\u2019t stop there, stating on X that it was \u201ctime to drop the really big bomb: Donald Trump is in the Epstein files.\u201d<\/p>\n<blockquote>\n<p>\u201cThat is the real reason they have not been made public. Have a nice day, DJT!\u201d<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">BREAKING: President Trump\u2019s former White House Chief Strategist Steve Bannon calls for Elon Musk to be deported, per NY Times. <a href=\"https:\/\/t.co\/Q82Pbhzppt\" data-wpel-link=\"external\" target=\"_blank\">https:\/\/t.co\/Q82Pbhzppt<\/a><\/p>\n<p>\u2014 The Kobeissi Letter (@KobeissiLetter) <a href=\"https:\/\/twitter.com\/KobeissiLetter\/status\/1930729405992628231?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">June 5, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The pair started to <a href=\"https:\/\/x.com\/elonmusk\/status\/1930796810928599163\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\">cool off<\/a> late on Thursday with Musk\u2019s admissions that it may be time to reconcile.<\/p>\n<h2>$1B in Liquidations<\/h2>\n<p>There has been almost $1 billion in crypto liquidations over the last 24 hours, <a href=\"https:\/\/www.coinglass.com\/LiquidationData\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\">according<\/a> to Coinglass. Around 228,000 traders were wrecked, almost 90% of them in BTC long positions, and the total liquidations were around $988 million, it noted.<\/p>\n<p>However, analysts had <a href=\"https:\/\/cryptopotato.com\/bitcoin-waiting-for-leverage-flush-before-next-big-move-analyst\/\" data-wpel-link=\"internal\">predicted<\/a> that a leverage flushout was overdue, with open interest on Bitcoin futures markets hitting all-time highs recently.<\/p>\n<p>Bitcoin lost almost $5,000 in a matter of hours, falling to a 4-week low just below $101,000 in late trading on Thursday. However, it found support there and recovered marginally to reach $102,800 during Asian trading on Friday.<\/p>\n<p>Analyst \u201cCrypNuevo\u201d said that a quick bounce from this level was unlikely and more consolidation could occur, unless the sell-off accelerates.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">$BTC<\/a> update:<\/p>\n<p>Plan is playing out so far!<\/p>\n<p>Let\u2019s see if this psychological support ($100k) can hold.<\/p>\n<p>A quick bounce is unlikely imo. I\u2019d expect that, at best, a small consolidation in this area before any interesting move could be the case \u2013 unless if we break below it fast. <a href=\"https:\/\/t.co\/iWql8N6SW7\" data-wpel-link=\"external\" target=\"_blank\">https:\/\/t.co\/iWql8N6SW7<\/a> <a href=\"https:\/\/t.co\/CIb1KpJt8i\" data-wpel-link=\"external\" target=\"_blank\">pic.twitter.com\/CIb1KpJt8i<\/a><\/p>\n<p>\u2014 CrypNuevo (@CrypNuevo) <a href=\"https:\/\/twitter.com\/CrypNuevo\/status\/1930729265865306288?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">June 5, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The post <a href=\"https:\/\/cryptopotato.com\/crypto-markets-see-red-as-trump-musk-bromance-ends-in-flames\/\" rel=\"nofollow\">Crypto Markets See Red as Trump-Musk Bromance Ends in Flames\u00a0\u00a0<\/a> appeared first on <a href=\"https:\/\/cryptopotato.com\/\" rel=\"nofollow\">CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Total crypto market capitalization declined by around $170 billion in a fall to $3.26 trillion on June 5, its lowest level since May 8, almost a month ago. Markets are now poised for a further fall below longer-term levels if current support levels break down. However, the decline slowed during early trading in Asia on [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-30524","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/30524","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=30524"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/30524\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30524"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}