Crypto Market Turmoil: Trump-Elon Feud Sparks Bitcoin and PEPE Declines Amidst Massive Liquidations and FloppyPepe (FPPE) Emergence
The cryptocurrency market has experienced intense volatility triggered by a public dispute between US President Donald Trump and Tesla CEO Elon Musk. This high-profile conflict led to sharp price drops across major coins, with Bitcoin (BTC) falling nearly 3% and testing the critical $100,000 threshold. Meme coins were notably impacted: PEPE fell 6.7% in 24 hours and 14.5% for the week, while Trump Coin plunged 9.4% daily and nearly 14% weekly. Overall, over $967 million in liquidations were recorded, with $345 million from Bitcoin longs, highlighting the market’s vulnerability to external drama and the outsized influence of major political and tech figures. Despite technical signals of possible recovery for PEPE and some bullish forecasts for Trump Coin, market sentiment remains cautious. In contrast, new utility-focused projects like FloppyPepe (FPPE), leveraging AI and strong community-driven strategies, are gaining attention and investor interest, raising over $2.36 million during its presale even as broader market fear persists. For traders, these developments underscore the impact of external events on digital asset markets, the risk of hype cycles for meme coins, and the potential opportunities found in tokens offering clear utility and security. Ongoing political and celebrity controversies may continue to fuel volatility, so traders should remain vigilant.
Bearish
The public feud between Trump and Musk has triggered sharp declines in Bitcoin, major meme coins like PEPE and Trump Coin, and led to nearly $1 billion in forced liquidations, signaling immediate bearish momentum for the broader crypto market and especially the affected tokens. Although utility-focused projects like FloppyPepe (FPPE) are attracting attention during this turmoil, the overall market sentiment is cautious and volatility is elevated. Historically, similar public disputes and liquidations have caused negative price movements in the short term, and while select new tokens might see isolated gains, the broader impact remains bearish in the near future.