The crypto market crash worsened after Elon Musk and Donald Trump publicly disagreed, resulting in over $1 billion in long positions being lost.
Confusion surrounding a new government spending bill also exacerbated the crypto market crash, leading to increased volatility.
The disagreement between Musk and Trump, who were once aligned in their support for innovation and anti-establishment views, has caused significant turmoil in the crypto space.
The public dispute between Musk and Trump, fueled by political tensions over the 'Beautiful Bill', has created uncertainty and financial repercussions in the market, with over $982 million of positions liquidated in the past 24 hours.