The price of bitcoin plummeted on Thursday amid the public backlash between US President Donald Trump and Elon Musk, the richest man in the world.
After trading consistently between $104,000 and $106,000 over the course of the week, the leading cryptocurrency fell to less than $101,000 as tensions between the two powerful individuals intensified. They attacked one another on their own social media platforms, Truth Social and X (formerly Twitter).
Bitcoin has since regained its market resilience and is currently trading at about $104,000. Crypto Daan, a market expert, has identified the price levels that are crucial for the upcoming price breakout as another consolidation forms.