Bitcoin (BTC) experienced a decline on Friday, falling to $101,000 as escalating tensions between former President Donald Trump and Elon Musk unsettled investor sentiment. The broader cryptocurrency market also faced downward pressure, with Ethereum (ETH) dropping by 6%.
The public dispute between Trump and Musk has negatively impacted assets associated with both figures. Trump Media & Technology Group’s shares fell by 8%, while Trump Coin, a meme-based cryptocurrency endorsed by Trump, saw a 12% decrease in value.
This turmoil highlights the cryptocurrency market’s sensitivity to political dynamics and the influence of high-profile personalities. Investors are advised to exercise caution amid ongoing economic uncertainties and geopolitical tensions.
