Bitcoin suddenly rises and falls sharply, could it be related to Musk being "kicked out" and Trump's "reciprocal tariff" decree?
According to multiple media reports, President Trump has told his closest associates that Tesla CEO and head of the Office of Government Efficiency, Musk, will resign from his political position.
These two have a rather superficial brotherhood. Although over the past year, Musk has enjoyed great success within the Trump administration and even served as the head of the "Office of Government Efficiency" (DOGE), he has now become a "political burden" for the White House.
According to Politico, citing informed sources, the Trump administration has grown increasingly dissatisfied with Musk's recent behavior, believing he has become a troublemaker.
However, some government officials have revealed that Musk may continue to participate in White House affairs as an informal advisor and may occasionally appear at the White House. Other officials bluntly stated that those who believe Musk will completely exit the White House are "deluding themselves."
Although the impact of spending cuts led by Musk's DOGE remains to be seen, it has indeed drawn many opponents and put considerable pressure on the companies he founded. Before this, Trump’s administration officials had praised Musk's political potential, stating that his future prospects were limitless.
After reports yesterday, Bitcoin experienced a slight rise, with its price soaring from under $85,000 to $87,000. However, the cryptocurrency market quickly reacted negatively to reports of Musk's impending departure from Trump’s inner circle.
Additionally, as the first U.S. president to support Bitcoin and certain altcoins, Trump’s signing of the "reciprocal tariff" executive order this morning has also intensified market volatility, causing Bitcoin's price to drop from its peak to around $82,000, with fluctuations exceeding 5%, leaving investors confused about market trends.
Conclusion:
This series of events is even more exciting than the candlestick charts of the cryptocurrency market! It seems that in the power games of political bigwigs, the cryptocurrency market is always the most sensitive "barometer".
However, speaking of which, do you think Musk is really going to "cool down" this time, or is this just another instance of "extreme pressure" from Trump's team?
Is Musk’s departure from the White House a positive or negative for cryptocurrency? How will Trump’s new tariff policy affect Bitcoin’s trends?