According to Charlie Bilello, Tesla delivered 418,000 vehicles in Q4, a 16% year-over-year decline that marks the largest YoY drop in the company’s history, source: Charlie Bilello on X (Jan 2, 2026) and bilello.blog/newsletter. Deliveries are a primary volume driver of Tesla’s automotive revenue because revenue is recognized upon customer delivery, making the YoY decline a direct volume headwind for Q4 results analysis, source: Tesla 2023 Form 10-K (Revenue Recognition section) at ir.tesla.com. For crypto traders, research shows Bitcoin (BTC) and U.S. equities have exhibited higher co-movement since 2020, so risk-off moves around TSLA can coincide with broader risk sentiment shifts that may affect BTC and ETH, source: IMF blog (Jan 2022) “Crypto Prices Move More in Sync With Stocks” at imf.org.