Bitcoin Dips Amid Controversial Musk-Trump Twitter Clash

Bitcoin experienced a 3.3% drop on June 2025, driven by a public Twitter dispute between Elon Musk and Donald Trump.

The event underlines the acute vulnerability of crypto markets to social media, triggering over $1 billion in liquidations.

Musk-Trump Feud Triggers $1B Crypto Liquidations

Elon Musk’s and Donald Trump’s confrontation on Twitter incited significant market movement. This volatility spurred significant liquidations, culminating in over $1 billion in lost crypto positions globally.

The liquidations were largely due to leveraged positions collapsing under the price shifts. No official comments from Musk or Trump were released, but CoinGlass marked it a major event.

Over 220,000 Traders Affected by Market Downturn

The abrupt market decline impacted over 220,000 traders worldwide, primarily affecting long positions. Leading exchanges like Bybit and Binance reported substantial losses.

Financial implications include hundreds of millions in losses for BTC and ETH, intensifying scrutiny of social media’s impact on crypto markets.

According to CoinGlass, this event was significant:

It was the largest long liquidation since February 25.

Social Media’s Impact on Crypto Not New

The liquidation event mirrors past incidents influenced by social media commentary. Previously, similar occurrences have followed statements from key public figures.

Experts suggest historical patterns predict continued volatility with increasing market sensitivity to external commentaries. Analysis cites the neutral Fear and Greed Index indicating muted panic response.