According to Fox News, Elon Musk stated that former President Trump would have lost the 2024 election without his support (source: Fox News, June 5, 2025). Musk's influence on political outcomes has historically impacted market sentiment, particularly in volatile sectors like cryptocurrency. Market analysts note that Musk’s public endorsements and statements often lead to increased trading activity and volatility in Bitcoin, Dogecoin, and other digital assets, as seen in previous market cycles (source: Bloomberg, 2023). Traders should monitor potential regulatory or policy shifts resulting from the new administration, as these could affect crypto market dynamics and investor confidence.