Bitcoin remained stable above $105,000 on Saturday despite the escalating Trump-Musk feud that could impact traditional markets next week.
Bitcoin’s Stability Amid Political Tensions
On Saturday, President Trump, in a phone interview with NBC News, cautioned of “serious consequences” if Elon Musk financially supports Democratic candidates opposing Republicans who back the GOP’s budget bill. Trump stated, “If he does, he’ll have to pay the consequences for that,” and added, “He’ll have to pay very serious consequences if he does that.”
Unyielding Stance
Trump, who has previously highlighted support from Musk, dismissed the possibility of reconciliation. When asked if he wished to mend ties, he responded, “No,” and suggested the rift might be permanent.
Bitcoin’s Market Reaction
Despite the growing feud between these influential figures in U.S. politics and technology, Bitcoin remained unaffected. The cryptocurrency maintained its earlier gains, trading near weekly highs. This stability suggests traders might view BTC as a hedge against institutional instability or as an asset less affected by partisan conflicts that typically influence equities.
Technical Analysis Insights
According to CoinDesk Research’s technical analysis model, BTC traded within a 24-hour range of $1,162 (1.13%), from a low of $104,624 to a high of $105,786. Strong support was noted at $104,800, with above-average volume indicating buyer interest. Resistance at $105,200 was surpassed and has become a short-term support zone. Volume peaked at 378 BTC during key breakout periods, notably between 13:43–13:46 and 13:53. A brief consolidation occurred between $104,300–$104,600 before the final rise to near highs. An ascending price channel remains intact, indicating a bullish trend despite occasional pullbacks.
The ongoing stability of Bitcoin amidst political tensions raises questions about its role as a financial safe haven.
