Bitcoin (BTC) Stays Firm as Trump-Musk Feud Escalates Over 2025 Budget Politics

Bitcoin

held agency above $105,000 on Saturday regardless of an unusually combative and private escalation within the Trump-Musk feud that would rattle conventional markets subsequent week.

On Saturday, in a cellphone interview with NBC News, President Trump warned that there can be “serious consequences” if Elon Musk financially backed Democratic candidates working towards Republicans who help the GOP’s price range invoice. “If he does, he’ll have to pay the consequences for that,” Trump stated, including later, “He’ll have to pay very serious consequences if he does that.”

Trump, who has usually boasted of previous help from Musk, firmly dismissed the concept of mending ties. “No,” he stated when requested whether or not he wished to restore the connection. “I would assume so, yeah,” he added when requested if the rift was everlasting.

Despite the intensifying feud between two of essentially the most influential figures in U.S. politics and know-how, Bitcoin remained unfazed. The cryptocurrency held onto earlier positive aspects and continues to commerce close to weekly highs. The market’s composure means that merchants might more and more view BTC as a hedge towards institutional dysfunction, or at the least as an asset insulated from the partisan fallout that tends to affect equities extra straight.

Technical Analysis Highlights

• BTC traded in a 24-hour vary of $1,162 (1.13%), from a low of $104,624 to a excessive of $105,786, in response to CoinDesk Research’s technical evaluation mannequin.
• Strong help fashioned at $104,800, the place above-average quantity confirmed purchaser curiosity.
• Resistance at $105,200 was damaged and has since flipped right into a short-term help zone.
• Volume peaked at 378 BTC throughout key breakout moments, particularly round 13:43–13:46 and 13:53.
• A brief consolidation occurred between $104,300–$104,600 earlier than the ultimate surge to close highs.
• An ascending value channel stays intact, exhibiting bullish construction regardless of intermittent pullbacks.

Disclaimer: Parts of this text have been generated with the help from AI instruments and reviewed by our editorial crew to make sure accuracy and adherence to our requirements. For extra info, see CoinDesk’s full AI Policy.