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Industry insiders: The tense relationship between Trump and Musk does not affect the long-term bullish outlook for Bitcoin.
Gate News bot message, LVRG Research director Nick Ruck stated: "Although recent U.S. macroeconomic reports have affected the selling, the negative outlook mainly stems from the escalating tensions between President Trump and Elon Musk."
Investors are concerned that the conflicts between them may spread to the market. As institutions continue to build within the larger cryptocurrency ecosystem, we remain optimistic about the long-term outlook.
Traders are staying cautious as the market awaits clarity on the debt ceiling debate and the potential impact of Trump's "Beautiful Big Bill" on fiscal policy.
Source: CoinDesk