I do not know why the news are bringing this up, no significant effect at all.
You're kidding right? Their sale set off the liquidations of Celsius, Three Arrows Capital, Luna, along with several other major players. Even the mention that Tesla sold 75% of their holdings caused a further 136 million dollars in liquidations.
Elon musk made a huge impact on crypto market no doubt about that. but whole market is in down trend . crypt ,stock everything is collapsing. i think global supply chain has been broken,oil & gas shortage,FED print a huge amount of money. So all together the economy is crashing .