Bitcoin price slumps $2K on Musk’s ‘in the end’ tweets

Bitcoin price slumps $2K on Musk’s ‘in the end’ tweets


Tesla CEO Elon Musk has brought more stress to the cryptocurrency markets by posting another series of cryptocurrency-related tweets on Thursday.

Bitcoin lost around $2,000 in a matter of hours after Musk took to Twitter to post about Bitcoin (BTC) again.

The Bitcoin price reacted immediately, dropping from around $38,700 to $37,500 in an hour. Bitcoin continued falling as Musk kept tweeting more cryptic posts in the thread including another breakup-themed tweet on falling crypto prices as well as a post on Dogecoin (DOGE).

pic.twitter.com/MLhu6oOwgc

Trending: Multiple Individuals Push Multiple Ballots through Multiple Tabulators Multiple Times in Georgia. This Is Illegal. Law Enforcement Does Nothing.

— Elon Musk (@elonmusk) June 4, 2021

Bitcoin subsequently dipped to as low as $36,400, dropping over 6% over the past 24 hours. At the time of writing, BTC is trading at $36,322, according to data from CoinMarketCap.

The price action comes shortly after Bitcoin attempted to retest $40,000 yesterday, with some traders suggesting that BTC could face a correction before continuing an upward trend.

Bitcoin 24-hour price chart. Source: CoinMarketCap

Musk’s new Bitcoin tweets spurred another wave of outrage in the crypto

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