🔥 Key Developments in the Trump–Musk Feud —— NO NEW TRADES OPEN. Let the market bottom out.

1. Musk’s Critique of Trump’s Tax-Cut Bill

Elon Musk publicly criticized President Trump’s proposed tax-cut and spending bill, labeling it as fiscally irresponsible and warning that it would exacerbate the national debt, which currently stands at $36.2 trillion. 

2. Trump’s Retaliation Against Musk

In response to Musk’s criticism, President Trump threatened to sever substantial government contracts and subsidies with Musk’s companies, including Tesla, SpaceX, and Starlink. This move signifies a significant escalation in their conflict. 

3. Social Media Exchanges and Political Ramifications

The dispute intensified on social media platforms, with Musk suggesting that Trump should be impeached. Additionally, Musk hinted at the possibility of forming a new centrist political party, further straining their relationship. 

4. Economic Impact on Tesla and Musk’s Net Worth

Following the public feud, Tesla’s stock experienced a significant decline, dropping by 14.3% and resulting in a loss of approximately $150 billion in market value. Consequently, Elon Musk’s net worth decreased by over $8 billion in a single day. 

⸻

📉 Cryptocurrency Market Reactions

The escalating conflict between Trump and Musk has introduced volatility into the cryptocurrency markets:

• Bitcoin (BTC): Currently priced at $101,415, Bitcoin has experienced fluctuations amid the political tensions.

• Dogecoin (DOGE): Trading at $0.1708, Dogecoin’s price movements have been influenced by Musk’s public statements and involvement in government projects.

Investors are closely monitoring the situation, as the feud between two influential figures adds uncertainty to the market dynamics.