Trump harshly criticizes Elon Musk - and the cryptocurrency market reacts quickly
Donald Trump ignited a new storm on Twitter last night, calling Elon Musk a "failed genius" and accusing him of betraying American cryptocurrency innovation in favor of China.
Within 12 hours, the tweet garnered 60 million views - and the markets felt it:
📉 Bitcoin's price dropped by 2.4% (from $71,300 to $69,700)
📉 Ethereum's price dropped by 1.8%
This conflict is not just personal, but also political. Trump has recently embraced cryptocurrencies, while Musk is now leaning more towards artificial intelligence. Their public disagreement sends conflicting signals to retail investors, at a time when pressure is mounting ahead of the U.S. elections.
With two of the top voices in the field at opposite ends, traders are wondering: which side do cryptocurrencies really stand on?
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