The crypto market is experiencing a significant downturn today, influenced by the clash between Elon Musk and former U.S. President Donald Trump. Tesla shares have plummeted by 15%, contributing to the turmoil in cryptocurrency values. Bitcoin continues to decline in price, alongside other altcoins in the market.

This current market turbulence has resulted in the overall crypto market cap declining by 4.8% over the past 24 hours, reflecting the ripple effect of external factors on digital assets. Additionally, the U.S. stock market has experienced a slight dip, possibly influenced by the volatile cryptocurrency landscape and broader economic concerns.