#TrumpVsMusk

Battle of the giants… 😅$BTC

The public fallout between Elon Musk and Donald Trump caused shockwaves in the financial markets, leading Tesla's shares to plummet 14% and dragging the cryptocurrency sector into a broad risk-off retreat. Musk's criticism of Trump's proposed tariffs, which could trigger a recession, resulted in significant market fluctuations ¹.

*Key Developments:*

- *Bitcoin Price Drop*: The value of Bitcoin fell to $101,291.10 following Musk's comments, with a 24-hour high of $105,936.69.

- *Decline in Tesla Shares*: Tesla's shares closed 16% lower since Musk began criticizing Trump's domestic policy bill.

- *Impact on the Cryptocurrency Market*: The broader cryptocurrency market fell nearly 5% during the same period, with the meme coin $TRUMP sliding 10%.

*Market Outlook:*

- *Uncertainty Ahead*: The feud between Musk and Trump introduced new instability into an already volatile market.

- *Potential Consequences*: Trump's tariff policies could lead to sharp trade contractions and substantial welfare losses, particularly for the United States.