๐ข BREAKING: When Billionaires Clash, Bitcoin Reacts! ๐
Did you feel that tremor in the crypto market yesterday? It wasn't just typical volatility. On June 5, 2025, a highly public and escalating "feud" between Elon Musk and Donald Trump sent ripples across traditional markets and directly impacted #Bitcoin and altcoins!
What Happened?
Elon Musk publicly criticized Trump's proposed global tariffs, warning of a potential recession. This escalated into a heated exchange, with reports of Trump calling Musk "CRAZY" and threatening to cut government contracts.
The Fallout:
Tesla's stock plummeted by over 14%, wiping out billions! But the ripple effect didn't stop there. The #Crypto market saw a significant downturn, with over $308 million in Bitcoin long positions liquidated as uncertainty and fear gripped investors. BTC dipped near the crucial $100,000 mark, and major altcoins like ETH and SOL also saw sharp declines.
Why it Matters for Crypto:
This episode highlights how deeply interconnected the crypto world is with broader macroeconomic and geopolitical events, especially when highly influential figures are involved. Public spats between personalities like Musk and Trump can trigger widespread investor nervousness, leading to rapid sell-offs and exacerbating existing market pressures (like profit-taking by "whales").
What's Next?
As the market consolidates and anticipates today's US Jobs Report, understanding these underlying influences is crucial. Will this political drama continue to cast a shadow, or will crypto find its footing?
Stay tuned, keep calm, and always #MyCOSTrade
