US house prices could tumble as much as 20% in the wake of the surge in mortgage rates.
The world's biggest digital currency has plunged 65% so far this year, and recently traded at $16,854.
Federal Reserve officials stressed the need to keep raising interest rates while acknowledging recent encouraging news on US consumer prices.
Musk sent a message to Twitter Inc staff telling them they had until Thursday to decide whether they wanted to stay or take a severance.