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Bitcoin sank and Tesla shares nosedived after Elon Musk claimed Donald Trump seems within the Epstein recordsdata, escalating a bitter feud with the US President
The crypto market slumped greater than 2% on the information, with Bitcoin dropping to a 24-hour low of $100,436.89 earlier than rebounding to $103,295.45, based on CoinMarketCap.
Time to drop the actually large bomb:@realDonaldTrump is within the Epstein recordsdata. That’s the actual purpose they haven’t been made public.
Have a pleasant day, DJT!
— Elon Musk (@elonmusk) June 5, 2025
BTC’s drop caught merchants off guard, with $341.67 million in lengthy positions worn out up to now 24 hours, information from CoinGlass reveals.
In the meantime, Tesla inventory plunged 14% as traders offered after Trump threatened to revoke authorities contracts for Musk corporations.
Elon Musk Hits Again
Musk retaliated in opposition to the President’s menace, and mentioned SpaceX will decommission its Dragon spacecraft “instantly.” He additionally known as for Trump’s impeachment.
In mild of the President’s assertion about cancellation of my authorities contracts, @SpaceX will start decommissioning its Dragon spacecraft instantly pic.twitter.com/NG9sijjkgW
— Elon Musk (@elonmusk) June 5, 2025
The feud between the 2 billionaires began after Musk denounced a sweeping tax minimize and spending invoice that may enhance the US debt ceiling. The ”large, lovely invoice,” as Trump calls it, is a ”disgusting abomination,” based on Musk.
Musk sharply escalated the feud yesterday when he alleged that Trump is talked about within the unreleased recordsdata of the late intercourse offender Jeffrey Epstein. Epstein died by suicide whereas awaiting trial on prices of intercourse trafficking.
White Home press secretary Karoline Leavitt denounced the allegation, calling it ”an unlucky episode from Elon, who’s sad with the One Large Lovely Invoice as a result of it doesn’t embody the insurance policies he wished.”
TRUMP Leads Meme Coin Market Droop With 10% Plunge
As Trump and Musk slugged it out on social media, the Official Trump (TRUMP) meme coin plunged 10% within the final 24 hours to make it the largest loser among the many high 20 meme cash.
Meme coin giants Dogecoin (DOGE) and Shiba Inu (SHIB) had been unable to buck the bearish development, with Elon Musk favourite DOGE slumping greater than 6% and SHIB shedding over 3%.
The general meme coin market shed 5% of its market capitalization throughout the identical interval.
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