I'm even surprised that Bitcoin price dropped just because of the conflict between Trump and Elon, because it's a personal conflict, nothing to do with the economy.
It's quite opposite for me. At the end of the day, it's Trump who caused the drama, and whenever he caused a drama, it will automatically have an effect especially with the crypto market.
I know, he is the president of the world's largest economy and any statement or policy he makes will cause the economy to fluctuate and bitcoin is not immune. But the problem is that it was just a quarrel between him and his political friend (Elon) on social media. The two of them argued like two children and the conversation revolved around personal issues, not economics or geopolitics. So the market reaction makes me think that someone is using the news to manipulate the market.