Bitcoin and other crypto prices are currently down and various reasons are causing this. However, one of the most obvious is the current tension between Elon Musk and Donald Trump. The two took to X and some other media yesterday as they had a fallout, and this affected the prices of some other assets like crypto and stocks. How can this affect in the long run?
The public argument between Musk and Trump over a proposed legislative plan shook the markets. Bitcoin price dropped nearly 3%, dragging it closer to the $100,000 level, and over $300 million in long positions were liquidated. Ethereum price fell more than 6%, and Ripple’s XRP price dropped around 3.5%. Other altcoins like Dogecoin also suffered losses.
A recent video by the Working Money Channel on YouTube acknowledges the volatility, stating that despite the market looking weak now, it’s all part of Bitcoin’s transitional phase. According to him, BTC is trying to retest its reaccumulation range and shift into a full price discovery mode.
He mentioned that fear is creeping in, but we are still in neutral territory. The total market cap dropped to $3.19 trillion, down over 3%, and the top 100 coins by CoinMarketCap showed a similar drop.
Bitcoin price declined by over 2%, Ethereum saw a 6.78% drop, and XRP price is down more than 3%. The analyst points to Elon Musk’s recent tweet as a catalyst, where Musk accused Trump of being part of an undisclosed file cover-up and hinted at bigger revelations to come. These posts were followed by heavy sell-offs across both crypto and stock markets.
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XRP Holding Steady Amid Drama
Despite the downturn, the XRP chart is still holding key support levels, according to the channel host. He noted that XRP’s price support near $2.07 and ultimate support at $1.96 are still intact. He reminded viewers that we’ve seen similar dips before and that long-term fundamentals remain strong.
Another big development is the growing momentum behind an XRP ETF. Citing Polymarket data, he said the odds of an XRP ETF approval by the SEC in 2025 have jumped to 93%, up from under 70% the previous month. Legal clarity and institutional interest are driving the optimism.
Ripple’s reported offer of $6 billion to Circle turned out to be a joke by CTO David Schwartz, which had earlier stirred confusion in the community. Meanwhile, Circle went public on the New York Stock Exchange, and its valuation tripled to $15 billion within hours. This IPO, the analyst said, could affect how investors look at other stablecoin companies like Ripple and Tether.
Is the Trump vs Musk Feud Real or Political Theater?
The spat between Musk and Trump might have more to it than meets the eye. Trump recently hinted that Musk’s government contracts could be cut, claiming he removed the EV mandate and that Elon “went crazy.” In response, Musk posted a poll asking if it was time to start a new political party, which got over 80% support from nearly 4 million votes.
Some believe this entire feud could be staged. Analyst Marty Party believes the most likely outcome is a reconciliation, driven by mutual interests. Trump needs Musk’s companies like SpaceX and Tesla for strategic reasons, while Musk relies on government contracts. The feud might simply be posturing, with both men negotiating behind the scenes for influence over future policies.
On the other hand, the least likely outcomes include lawsuits, political realignment, or full-on rupture, though the analyst assigns low probabilities to these.
Bigger Picture: Market Set for a Bounce?
While this drama caused crypto and traditional markets to pull back, the analyst emphasized that this could just be a setup for a bigger rally. He highlighted how XRP and Bitcoin are both still technically strong. The U.S. Treasury’s $10 billion debt buyback and the filing of a Truth Social Bitcoin ETF add more layers of intrigue to this volatile moment.
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The Working Money Channel host wrapped up by saying that the tension between Musk and Trump might actually be giving more runway for BTC, XRP, and the broader crypto market to surge later in the cycle. For now, he advises patience and staying focused on the long-term trends rather than temporary political noise.
So whether real or staged, the Musk–Trump feud is already shaking up crypto. The BTC price, Ripple price, and XRP price are all feeling the heat, but some analysts still see a rally brewing once the smoke clears.
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