COINOTAG News reported on June 6th that tensions between former U.S. President Trump and Tesla CEO Elon Musk escalated beyond social media disputes, evolving into significant political and business confrontations. Trump criticized Musk for benefiting from government subsidies while opposing certain policies, threatening to sever their contractual ties and withdraw support. In response, Musk accused Trump of ingratitude and alluded to sensitive legal matters, heightening public scrutiny. This discord triggered a sharp 14% decline in Tesla’s stock price within a single trading session, amplifying concerns over volatility in tech stocks and broader market risk appetite.
The deteriorating relationship between these high-profile figures has intensified pressure on Musk’s corporate reputation and investor confidence. Market participants are closely monitoring the situation, as the resulting political uncertainty could adversely affect sentiment across equities and the cryptocurrency market. Bitunix analysts advise cautious position management amid rising political risks, noting that Bitcoin faces resistance near $105,000. Failure to surpass this level may result in continued downward pressure, with support identified around $100,000. Investors are encouraged to await upcoming non-farm payroll data for clearer market direction before making significant moves.