I think he is having fun with the market. As you can see he is supporting a lot of random mem tokens. For example mom doge, damn it's sick Only a sick person will do it having such a huge power and influence on the market.
I still believe that bitcoin will go 100k $ , there are a lot of reasons. institutional investors have traditionally been vary active according to crypto. If Ilon Musk does't do negative ads for crypto it's already been 100k