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).
— 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