#TrumpVsMusk
The recent crypto and Tesla market crash, erasing significant value, stems from a public feud between Elon Musk and Donald Trump, alongside broader economic and company-specific factors. Posts on X highlight a clash over a $2.4 trillion spending bill, with Musk's criticism and Trump's threat to federal contracts sparking investor panic. Tesla's stock plummeted 14-16%, losing $150 billion in market value, as Musk's focus on the Department of Government Efficiency (DOGE) raised concerns about his commitment to Tesla. Meanwhile, crypto markets dropped 2.6-3%, with Bitcoin falling to $100.4k-$104k, Ethereum to $2,553, and Dogecoin by 9.86%, driven by $983 million in liquidations and fears of regulatory uncertainty. Tesla faces declining sales, rising competition from BYD, and brand damage from Musk’s political activities. Macroeconomic factors, like stalled US-China trade talks and potential tariffs, further fueled the sell-off, amplifying volatility in both markets
