$BTC #BTC/USDT The cryptocurrency market is rapidly turning red by the minute as the conflict between U.S. President Donald Trump and Tesla CEO Elon Musk escalates.

In the evening in the U.S., the price of Bitcoin rose:

BTC100 $798.14

However, it soon plummeted by more than 4%, reaching a level of $100,500 — risking falling below the five-digit mark for the first time in a month.

The CoinDesk 20 index, which includes the largest cryptocurrencies by market capitalization, excluding exchange tokens, meme coins, and stablecoins, lost over 5% during the same period. The SOL and SUI coins dropped significantly, losing more than 7%.

On Thursday, shares of the Coinbase exchange (COIN) fell by 4.6%, MicroStrategy (MSTR) by 2.4%; several mining companies, including MARA Holdings (MARA), Riot Platforms (RIOT), and Core Scientific (CORZ), lost about 5%.

The conflict between Musk and Trump, initially arising from the potential impact of the "Great Wonderful Law" on the U.S. national debt, escalated on Thursday afternoon. The head of state called the founder of SpaceX "crazy" and threatened to terminate government contracts with all of the entrepreneur's enterprises.

Musk, the richest person on the planet, responded with a statement that the president is involved in a scandal involving Jeffrey Epstein.