Reason for the market drop Yet again messing up the market #Chailink

The conflict between Elon Musk and President Donald Trump reached a new level in June 2025, with significant repercussions in the financial markets, including the cryptocurrency market.

🔥 The Catalyst: The “Big Beautiful Bill”

The tension began with the bill nicknamed the “Big Beautiful Bill,” proposed by Trump, which includes cuts to health and clean energy programs, increased spending on border security, and a rise in the public deficit to US$ 2.5 trillion. Musk publicly criticized the bill, calling it a “repugnant abomination” and warning of its negative impacts on the economy and the environment.  

⚔️ Escalation of Accusations

In retaliation, Trump threatened to cancel all federal contracts with Musk's companies, including Tesla, SpaceX, and Starlink. Musk responded by accusing Trump of being linked to Jeffrey Epstein's files, suggesting that this was the reason such documents had not yet been released. 

💥 Definitive Break

The relationship, which was once collaborative — with Musk serving as head of the Department of Government Efficiency (DOGE) and financially supporting Trump's 2024 campaign — completely deteriorated. Musk stated that without his support, Trump would have lost the election and began publicly advocating for the impeachment of the president, suggesting his replacement by Vice President JD Vance.  

📉 Impact on the Cryptocurrency Market

The feud between two of the most influential figures in the business and political world generated instability in the markets. Tesla's stock fell by 20%, and the price of Bitcoin dropped to around US$ 104 thousand, with investors fearing the consequences of a possible rift between Musk and the U.S. government. 

In summary, the disagreement between Musk and Trump, driven by political and personal differences, is causing shockwaves in the markets and may have lasting implications for U.S. politics and the economy.