Congratulations to the criminal mastermind, Trump, for rallying the alt-coin market into dumpster fire that he just ignited.
A president who was supposed to be a friend of crypto community turned out to be the worst nightmare for us, and this is just the beginning. A year that was supposed to be a year where most of us can make some money (forbid us small guys make a dough) just got sucked into this vortex of nightmare because of bunch of radical right wingers.
Impeachment can't come any sooner this time around to stop this bleeding...
Realistically, he won't be impeached for any of this, he has gotten inmunity because of the ruling of the supreme court some months ago. And also, I don't know how this could possibly have something to do with Trump, do you mean his associates dumping his token to realize gains?
I don't think the token of Trump have the capacity, liquidity and influence to unleash a bloodbath over the market has it is currently going on though. What we are seeing is likely due to people massively cashing out their gains in the alternative coin market, moving it into USDT and USDC. alts already had a pretty much good rally this year, it was expected we saw some correction, before they went back to normal.
You probably have some political bias against Trump, which you should not extrapolate into Cryptocurrencies, unless we talk about Bitcoin and Trump fully embracing it as an asset.