Crypto

Crypto Market Declines Amid Prevailing Bullish Sentiment

The Trump vs. Musk Clash: A Ripple Effect on the Crypto Market

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Trump vs. Musk: A Crypto Market Roller Coaster

The ongoing conflict between Donald Trump and Elon Musk has disrupted the crypto market, yet optimism remains strong for promising presales like Solaxy ($SOLX) and Snorter Token ($SNORT). A quick glance at Coinglass reveals a troubling scenario: Bitcoin suffered a $308 million wipeout overnight, contributing to a staggering $621 million loss for the entire crypto market.

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However, this turmoil wasn’t limited to cryptocurrencies. Tesla’s shares also took a significant hit, plummeting 14% in a matter of hours.

Unpacking the Recent Events

The discord began when Musk voiced his disapproval of Trump’s “Big, Beautiful Bill,” affecting Musk’s $38 billion government deal portfolio. The situation escalated rapidly, with Musk condemning the bill as a ‘disgusting abomination’ and Trump retaliating by threatening to cut Musk’s government subsidies. In a bold move, Musk accused Trump of appearing on the Epstein list.

While the crypto sphere was shaken, some feared this might herald a bear market. Fortunately, the market shows resilience, and recent announcements from Trump suggest business as usual. The S-3 Form filed with the SEC aims to secure $2.3 billion from over 50 investors, earmarked for creating a Bitcoin treasury and general corporate purposes. Trump Media CEO, Devin Nunes, heralded this move as a positive development.

This development could prompt a market rebound, attracting attention to the most promising presales of 2025.

Solaxy ($SOLX): Solana’s Layer 2 Upgrade

Solaxy ($SOLX) emerges as a much-needed Layer 2 upgrade for Solana, targeting the core issue of network congestion. This upgrade promises enhanced transaction speeds, cost efficiency, and reduced transaction failures through off-chain execution and parallel processing, leading to ultra-low latency.

With the Testnet Bridge already operational, users can experience the network’s improved speed, scalability, and simplicity. As one of the leading presales of 2025, $SOLX has raised over $44 million, with a current token price of $0.001746. The presale window closes in just 10 days, offering a unique investment opportunity. Analysts predict a year-end price increase to $0.032, reflecting a 1732% growth. By 2026, $SOLX could soar to $0.2, achieving an ROI of 11,354%. Seize the chance to diversify your portfolio with $SOLX.

Snorter Token ($SNORT): Telegram Trading Bot

Snorter Token ($SNORT) introduces a Telegram trading bot designed to identify market opportunities for investors, providing access to top Solana meme coins based on chart performance and potential. The Snorter Bot simplifies the complex and risky manual chart analysis process, preventing missed opportunities and tackling issues like sandwich attacks and hidden sell blockers.

With its trading workflow integrated into Telegram, the Snorter Bot eliminates the need for manual scanning, multiple wallets, and unreliable browser extensions. Currently available at a token price of $0.0943, the presale has accumulated over $472K, driven by the project’s enduring utility outlined in its whitepaper. Secure your $SNORT to maximize ROI if the project gains traction post-launch.

Gasspass ($GASS): A Meme Coin with Potential

Gasspass ($GASS) is making waves with a remarkable 131% growth over the past week. Rooted in Matt Furie’s universe, the creator of the iconic Pepe the Frog meme, Gasspass features a character from ZOGZ, a collection of 111 NFT illustrations released in May 2023.

Boasting a token supply of 420 billion and 0% buy and sell taxes, Gasspass has captured market attention. With community sentiment at 94% positive on CoinMarketCap, $GASS has enjoyed a 449% growth since its inception.

Predicting the Outcome of the Trump vs. Musk Conflict

The conclusion of the Trump vs. Musk saga remains uncertain, given the volatile nature of both figures. However, the crypto market is expected to recover once tensions subside. When that moment arrives, presales like Solaxy ($SOLX) and Snorter Token ($SNORT) may gain significant momentum. Remember, this is not financial advice. Always conduct thorough research before investing.

Editorial Process: At Bitcoinist, we are committed to delivering well-researched, accurate, and impartial content. Our rigorous sourcing standards and comprehensive review process by top technology experts and seasoned editors ensure the integrity, relevance, and value of our content for readers.

Emma Horvath

After graduating Communication and Media Studies MA in Eötvös Loránd University, Emma started to realize that her childhood dream as a creative news reporter committed to find dynamic journalism stories. I'm a passionate journalist with a keen interest in the fast-evolving world of cryptocurrencies. I've been reporting on the latest developments in the crypto industry for several years now, covering breaking news and providing insights on how the market is trending. I'm adept at analyzing daily market movements, researching ICOs, and keeping track of the latest innovations in blockchain technology. My expertise in the space makes her a trusted voice in the crypto community. Whether it's the latest Bitcoin price movements or the launch of a new DeFi platform, I am always at the forefront, bringing her readers the most up-to-date and informative news.

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