Bitcoin had a sudden dump from $106,000 to nearly $100,000 after a shocking feud developed between Elon Musk and Donald Trump over the “Big, Beautiful Bill” being pushed through Congress.
Elon Musk voiced his concerns over the bill throughout the day, publishing X posts such as, “Congress is spending America into bankruptcy!” The posts ultimately turned to more personal attacks from both Elon and Trump. Elon commented, “Without me, Trump would have lost the election…” Trump in turn posted on Truth Social, “The easiest way to save money in our Budget, Billions of Dollars, is to terminate Elon’s Governmental Subsidies and Contracts.”
Elon Musk posted in return on X that Donald Trump is in the Epstein files, and that, “The Trump tariffs will cause a recession in the second half of this year.”
When big egos collide on the world stage, the markets react negatively. In the end of the feud, Bitcoin managed to bounce back and avoid dipping below $100K.