{"id":275793,"date":"2025-06-05T21:53:56","date_gmt":"2025-06-05T21:53:56","guid":{"rendered":"https:\/\/peraltafinancing.com\/altcoin\/621550000-in-bitcoin-and-crypto-liquidated-as-trump-musk-meltdown-hits-critical-mass\/"},"modified":"2025-06-05T21:53:56","modified_gmt":"2025-06-05T21:53:56","slug":"621550000-in-bitcoin-and-crypto-liquidated-as-trump-musk-meltdown-hits-critical-mass","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=275793","title":{"rendered":"$621,550,000 in Bitcoin and Crypto Liquidated As Trump-Musk Meltdown Hits Critical Mass"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>Bitcoin\u2019s price is tumbling as President Trump and Elon Musk\u2019s battle over a trillion-dollar spending bill spirals out of control.<\/p>\n<p>In the last several hours, Trump has <a href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/114632206992330264\" rel=\"noopener\" target=\"_blank\">threatened<\/a> to cut Musk\u2019s government subsidies and contracts, while Musk <a href=\"https:\/\/x.com\/elonmusk\/status\/1930703865801810022\" rel=\"noopener\" target=\"_blank\">claimed<\/a> the President is named in the Jeffrey Epstein files.<\/p>\n<p>The turmoil pushed US markets slightly lower, triggered a 14% drop for Tesla (TSLA), and fueled a sharp drop in the price of Bitcoin, from a 24-hour high of $105,733 down to $100,900 at time of publishing.<\/p>\n<p>According to the crypto data aggregator <a href=\"https:\/\/www.coinglass.com\/LiquidationData\" rel=\"noopener\" target=\"_blank\">Coinglass<\/a>, a total of $621.55 million has been liquidated from the crypto markets in just the last four hours alone.<\/p>\n<p>The Trump-Musk meltdown was initially sparked by Musk\u2019s opposition to Trump\u2019s tax and spending bill.<\/p>\n<p>Musk called the bill a\u201ddisgusting abomination\u2019 that would balloon the federal deficit.<\/p>\n<p>The Congressional Budget Office (CBO) estimates the legislation would add $2.4 to $5 trillion to the $36.2 trillion national debt over a decade.<\/p>\n<p><em><span style=\"font-size: 13pt;\">Follow us on <a href=\"https:\/\/x.com\/TheDailyHodl\" target=\"_blank\" rel=\"noopener\">X<\/a>, <a href=\"https:\/\/www.facebook.com\/thedailyhodl\/\" target=\"_blank\" rel=\"noopener\">Facebook<\/a> and <a href=\"https:\/\/t.me\/thedailyhodl\" target=\"_blank\" rel=\"noopener\">Telegram<\/a><\/span><\/em><br \/>\n<br \/>\n<em><span style=\"font-size: 13pt;\">Don&#8217;t Miss a Beat \u2013 <a href=\"https:\/\/dailyhodl.com\/join-the-daily-hodl-email-list\/\" target=\"_blank\" rel=\"noopener\">Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em><br \/>\n<br \/>\n<em><span style=\"font-size: 13pt;\">Check <a href=\"https:\/\/dailyhodl.com\/crypto-markets\/\" target=\"_blank\" rel=\"noopener\">Price Action<\/a><\/span><\/em><br \/>\n<br \/>\n<em><span style=\"font-size: 13pt;\">Surf <a href=\"https:\/\/dailyhodl.com\/daily-hodl-mix\">The Daily Hodl Mix<\/a><\/span><\/em><br \/>\n<\/p>\n<div class=\"hideinamp\">\n<p>&amp;nbsp<br \/>\n<center><img loading=\"lazy\" decoding=\"async\" class=\"\" src=\"https:\/\/dailyhodl.com\/wp-content\/uploads\/2018\/06\/Get-Alerts-728x90.png\" width=\"800\" height=\"99\"\/><\/center><\/p>\n<h6>Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n<p><span style=\"font-size: 10pt;\"><em>Featured Image: Shutterstock\/Vadim Sadovski\/Chuenmanuse<\/em><\/span><\/p>\n<\/p><\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin\u2019s price is tumbling as President Trump and Elon Musk\u2019s battle over a trillion-dollar spending bill spirals out of control. In the last several hours, Trump has threatened to cut Musk\u2019s government subsidies and contracts, while Musk claimed the President is named in the Jeffrey Epstein files. The turmoil pushed US markets slightly lower, triggered [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":275794,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12030],"tags":[12920,4995,11082,10954,12795,18920,43027,1180,15047,49584,9427,40166,4971,1820,27076,1175,67705],"dealstore":[],"offerexpiration":[],"class_list":["post-275793","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin","tag-bitcoin","tag-budget","tag-critical","tag-crypto","tag-donald-trump","tag-elon-musk","tag-feud","tag-fight","tag-hits","tag-liquidated","tag-mass","tag-meltdown","tag-musk","tag-news","tag-president-trump","tag-trump","tag-trumpmusk"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>$621,550,000 in Bitcoin and Crypto Liquidated As Trump-Musk Meltdown Hits Critical Mass - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=275793\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$621,550,000 in Bitcoin and Crypto Liquidated As Trump-Musk Meltdown Hits Critical Mass - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"Bitcoin\u2019s price is tumbling as President Trump and Elon Musk\u2019s battle over a trillion-dollar spending bill spirals out of control. In the last several hours, Trump has threatened to cut Musk\u2019s government subsidies and contracts, while Musk claimed the President is named in the Jeffrey Epstein files. 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