Bitcoin Holds Above $105K as Trump Escalates Feud With Elon Musk
Bitcoin showed notable resilience over the weekend, maintaining levels above $105,000 even as former President Donald Trump intensified a high-stakes political feud with Tesla and X owner Elon Musk—an escalation that could weigh on broader markets in the coming week.
As of Saturday, Bitcoin (BTC) traded at $104,134.30, holding firm near weekly highs. The asset’s stability comes despite fresh political turmoil sparked by Trump’s comments in a televised interview with NBC News, where he warned of “serious consequences” if Musk were to financially support Democratic candidates opposing Republicans aligned with the GOP’s budget bill.
“If he does, he’ll have to pay the consequences for that,” Trump said, doubling down with, “Very serious consequences.”
Trump also appeared to rule out any future reconciliation with Musk, responding with a blunt “No” when asked about repairing the relationship. When pressed on whether the rift was permanent, he added, “I would assume so, yeah.”
Despite the unusually personal tone and potential implications for regulatory policy or market sentiment, Bitcoin remained unfazed, suggesting that traders increasingly see BTC as either detached from—or resilient to—the political theater that frequently roils traditional equities.
Technical Analysis Overview:
- 24-Hour Range: BTC traded within a $1,162 band (1.13%), from a low of $104,624 to a high of $105,786.
- Support Levels: Strong support was confirmed at $104,800, backed by above-average volume.
- Resistance Flipped: The $105,200 resistance level was breached and has since flipped into short-term support.
- Volume Peaks: Highest volumes (up to 378 BTC) were recorded during breakout phases between 13:43 and 13:53 UTC.
- Consolidation Zone: Brief pause in price action between $104,300–$104,600 preceded the upward push.
- Trend Structure: BTC remains within a bullish ascending channel, reinforcing strength despite minor pullbacks.
While the Trump–Musk fallout has drawn intense public and media scrutiny, Bitcoin’s price action suggests that crypto traders remain focused on market structure, liquidity, and macro trends—treating political noise as background rather than a direct threat to BTC’s current momentum.
