Trump-Musk Feud Sparks Bitcoin Crash to $100K
The ongoing clash between the U.S. President Donald Trump and billionaire Elon Musk has sent shockwaves through global markets, culminating in a sharp decline in Bitcoin’s price to near $100,000. The feud, which intensified over Trump’s proposed tariffs on European goods, has also triggered broader volatility in cryptocurrencies and stocks, with Tesla’s shares plummeting 14% in a single day. This article explores the causes and consequences of the market turmoil, highlighting the fragile interplay between politics, crypto, and traditional finance.
The Conflict: Trump’s Tariffs vs. Musk’s Pushback
The crisis began on June 5, 2025, when Musk publicly criticized Trump’s proposed tariffs on European imports, calling them a catalyst for a looming recession. In a tweet, Musk declared, “The Trump tariffs will cause a recession in the second half of this year,” sparking a heated exchange between the two billionaires. Trump retaliated via Truth Social, threatening to revoke government contracts from Musk’s companies, including SpaceX, claiming it would save taxpayers “billions.”
Musk escalated the feud by suggesting SpaceX might halt production of its Dragon spacecraft, though he later walked back the statement. The rhetoric spilled into financial markets, with Bitcoin’s price dropping nearly 3% to $100,500—a level not seen since early 2025—before rebounding slightly to $103,200 by press time.
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The ongoing clash between the U.S. President Donald Trump and billionaire Elon Musk has sent shockwaves through global markets, culminating in a sharp decline in Bitcoin’s price to near $100,000. The feud, which intensified over Trump’s proposed tariffs on European goods, has also triggered broader volatility in cryptocurrencies and stocks, with Tesla’s shares plummeting 14% in a single day. This article explores the causes and consequences of the market turmoil, highlighting the fragile interplay between politics, crypto, and traditional finance.
The Conflict: Trump’s Tariffs vs. Musk’s Pushback
The crisis began on June 5, 2025, when Musk publicly criticized Trump’s proposed tariffs on European imports, calling them a catalyst for a looming recession. In a tweet, Musk declared, “The Trump tariffs will cause a recession in the second half of this year,” sparking a heated exchange between the two billionaires. Trump retaliated via Truth Social, threatening to revoke government contracts from Musk’s companies, including SpaceX, claiming it would save taxpayers “billions.”
Musk escalated the feud by suggesting SpaceX might halt production of its Dragon spacecraft, though he later walked back the statement. The rhetoric spilled into financial markets, with Bitcoin’s price dropping nearly 3% to $100,500—a level not seen since early 2025—before rebounding slightly to $103,200 by press time.
Read the full article
Follow us social networks:Twitter https://x.com/Ybex_io | Telegram https://t.me/ybex_io | Exchanger https://ybex.io/