Things are not sunny between Musk and Trump. The very public spat between the duo has left the world of crypto and other financial settings in stitches. In other words, there is a visible turmoil in the paradise.
According to several on-chain analytics, BTC ETFs have seen around $278 million in liquidation since the spat came to light. Some experts have stated that the shift in US political power dynamics could significantly impact the market.
The signs of that hit have already begun to become apparent. The fear and greed index of crypto is not looking too good. According to the data, the market has slipped into a chaotic state of fear. The stocks of Musk and Trump-backed tokens, as well as share prices, have fallen quite sharply.
On the other end, we have data released by BlackRock. The firm has just acquired nearly $50 million worth of ETH. Therefore, this has maintained institutional interest at a high and stable level.
Therefore, all the signs point to upheaval coming soon, but hopefully, institutional investors will be fine.
