Bitcoin maintained its position above $105,000 on Saturday, even as tensions between President Trump and Elon Musk intensified over political budget issues.
Bitcoin’s Resilience Amid Political Tensions
On Saturday, President Trump, in a conversation with NBC News, warned of “serious consequences” if Elon Musk financially supported Democratic candidates opposing Republicans backing the GOP budget bill. Trump stated, “If he does, he’ll have to pay the consequences for that,” emphasizing the potential repercussions.
Despite the growing discord between two major figures in U.S. politics and technology, Bitcoin’s value remained stable. The cryptocurrency sustained its earlier gains, trading near its weekly highs. This stability indicates that traders might view Bitcoin as a hedge against political instability or as an asset less affected by partisan conflicts impacting traditional equities.
Technical Analysis Insights
According to CoinDesk Research’s technical analysis, 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 identified at $104,800, with above-average volume confirming buyer interest. Resistance at $105,200 was surpassed, turning into a short-term support zone.
Volume peaked at 378 BTC during key breakout moments, particularly between 13:43–13:46 and 13:53. A brief consolidation occurred between $104,300 and $104,600 before the final surge to near highs. The ascending price channel remains intact, suggesting a bullish structure despite occasional pullbacks.
In conclusion, Bitcoin’s stability amidst the Trump-Musk political clash highlights its potential role as a resilient asset in times of institutional uncertainty.
