{"id":24555,"date":"2025-06-06T10:38:42","date_gmt":"2025-06-06T07:38:42","guid":{"rendered":"https:\/\/forklog.com\/en\/trump-and-musk-clash-sends-bitcoin-tumbling-to-100000\/"},"modified":"2025-06-06T10:38:42","modified_gmt":"2025-06-06T07:38:42","slug":"trump-and-musk-clash-sends-bitcoin-tumbling-to-100000","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/trump-and-musk-clash-sends-bitcoin-tumbling-to-100000\/","title":{"rendered":"Trump and Musk Clash Sends Bitcoin Tumbling to $100,000"},"content":{"rendered":"<p>The spat between U.S. President Donald Trump and billionaire Elon Musk has intensified pressure on the leading cryptocurrency. Bitcoin&#8217;s price fell nearly 3%, approaching $100,000.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"565\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/BTCUSD_2025-06-06_09-52-23-1024x565.png\" alt=\"BTCUSD_2025-06-06_09-52-23\" class=\"wp-image-260064\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/BTCUSD_2025-06-06_09-52-23-1024x565.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/BTCUSD_2025-06-06_09-52-23-300x165.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/BTCUSD_2025-06-06_09-52-23-768x424.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/BTCUSD_2025-06-06_09-52-23.png 1438w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Hourly chart of BTC\/USD on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/chart\/?symbol=BINANCE%3ABTCUSD\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>On June 5, Musk criticized Trump&#8217;s tariff plans, sparking a conflict.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The Trump tariffs will cause a recession in the second half of this year <a href=\"https:\/\/t.co\/rbBC11iynE\">https:\/\/t.co\/rbBC11iynE<\/a><\/p>\n<p>\u2014 Elon Musk (@elonmusk) <a href=\"https:\/\/twitter.com\/elonmusk\/status\/1930722828481098043?ref_src=twsrc%5Etfw\">June 5, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>He stated that the president&#8217;s initiative &#8220;will cause a recession in the second half of this year.&#8221; <\/p>\n<p>Trump threatened on Truth Social to <a href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/114632206992330264\">cancel<\/a> Musk&#8217;s government contracts. This would save the budget &#8220;billions of dollars,&#8221; he claimed.<\/p>\n<p>Musk <a href=\"https:\/\/x.com\/elonmusk\/status\/1930718684819112251\">responded<\/a> with a message about withdrawing SpaceX&#8217;s Dragon spacecraft from service. He later <a href=\"https:\/\/x.com\/elonmusk\/status\/1930796810928599163\">retracted<\/a> this statement. <\/p>\n<p>At the time of writing, Tesla shares under the ticker TSLA are trading at $284.7, having fallen 14.26% in a day, according to Google Finance.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2025-06-06-101516.webp\" alt=\"Snimok-ekrana-2025-06-06-101516\" class=\"wp-image-260065\"\/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/www.google.com\/finance\/quote\/TSLA:NASDAQ\">Google Finance<\/a>.<\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\">State of the Crypto Market<\/h2>\n<p>Due to the conflict between two of the most influential figures in the U.S., Bitcoin dropped from $105,915 to $100,500. At the time of writing, the asset is trading at $103,200, according to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/bitcoin\">CoinGecko<\/a>.<\/p>\n<p>The decline led to the liquidation of long Bitcoin positions totaling $341.75 million in a day, according to <a href=\"https:\/\/www.coinglass.com\/LiquidationData\">Coinglass<\/a>.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2025-06-06-102540.webp\" alt=\"Snimok-ekrana-2025-06-06-102540\" class=\"wp-image-260066\"\/><figcaption class=\"wp-element-caption\">Data: Coinglass.<\/figcaption><\/figure>\n<p>The Trump-Musk quarrel also caused a 4% drop in the digital asset market capitalization.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"466\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2025-06-06-100742-1024x466.png\" alt=\"Snimok-ekrana-2025-06-06-100742\" class=\"wp-image-260067\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2025-06-06-100742-1024x466.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2025-06-06-100742-300x136.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2025-06-06-100742-768x349.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2025-06-06-100742-1536x699.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2025-06-06-100742.png 1622w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>.<\/figcaption><\/figure>\n<p>Other cryptocurrencies also showed declines. Ethereum lost 5.6%, XRP \u2014 2.8%, Solana \u2014 3.2%.<\/p>\n<p>The Fear and Greed Index dropped to 45 points, indicating a fear zone.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2025-06-06-101238.webp\" alt=\"Snimok-ekrana-2025-06-06-101238\" class=\"wp-image-260068\"\/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\">Alternative.me<\/a>.<\/figcaption><\/figure>\n<p>Back on May 23, the price of the leading cryptocurrency <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-dips-below-108000-amid-trumps-tariff-threats-against-the-eu\">dropped over 3%<\/a> within an hour following Trump&#8217;s threats to impose 50% tariffs on EU products.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The spat between U.S. President Donald Trump and billionaire Elon Musk has intensified pressure on the leading cryptocurrency. Bitcoin&#8217;s price fell nearly 3%, approaching $100,000. Hourly chart of BTC\/USD on Binance. Data: TradingView. On June 5, Musk criticized Trump&#8217;s tariff plans, sparking a conflict. The Trump tariffs will cause a recession in the second half [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":24554,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,991,1217,1145],"class_list":["post-24555","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-donald-trump","tag-elon-musk","tag-market-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"146","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/24555","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=24555"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/24555\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/24554"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=24555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=24555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=24555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}