BTC
$106,342.35
+
0.41%
ETH
$2,536.89
+
0.51%
USDT
$1.0004
–
0.01%
XRP
$2.2793
+
4.26%
BNB
$655.52
+
0.47%
SOL
$154.59
+
2.35%
USDC
$0.9997
+
0.00%
DOGE
$0.1864
+
1.05%
TRX
$0.2831
–
0.53%
ADA
$0.6762
+
1.41%
HYPE
$35.84
+
3.96%
SUI
$3.2775
+
1.31%
LINK
$13.96
+
1.14%
AVAX
$21.45
+
2.89%
LEO
$9.1749
+
0.85%
XLM
$0.2694
+
1.58%
BCH
$415.48
+
2.00%
TON
$3.1899
–
0.17%
SHIB
$0.0₄1269
–
0.35%
HBAR
$0.1706
+
0.76%
By Siamak Masnavi, CD Analytics|Edited by Aoyon Ashraf
Updated Jun 8, 2025, 7:19 p.m. Published Jun 7, 2025, 7:07 p.m.
- BTC gained 1.13% in the past 24-hour period, climbing from $104,624 to $105,786.
- Trump threatened “serious consequences” for Musk if he funds Democratic candidates, intensifying a public feud.
- Despite political tension and market risks, BTC held above $105K with bullish volume confirming investor resilience.
Bitcoin
held firm above $105,000 on Saturday despite an unusually combative and personal escalation in the Trump-Musk feud that could rattle traditional markets next week.
On Saturday, in a phone interview with NBC News, President Trump warned that there would be “serious consequences” if Elon Musk financially backed Democratic candidates running against Republicans who support the GOP’s budget bill. “If he does, he’ll have to pay the consequences for that,” Trump said, adding later, “He’ll have to pay very serious consequences if he does that.”
STORY CONTINUES BELOW
Trump, who has often boasted of past support from Musk, firmly dismissed the idea of mending ties. “No,” he said when asked whether he wished to repair the relationship. “I would assume so, yeah,” he added when asked if the rift was permanent.
Despite the intensifying feud between two of the most influential figures in U.S. politics and technology, bitcoin remained unfazed. The cryptocurrency held onto earlier gains and continues to trade near weekly highs. The market’s composure suggests that traders may increasingly view BTC as a hedge against institutional dysfunction, or at least as an asset insulated from the partisan fallout that tends to impact equities more directly.
Technical Analysis Highlights
- BTC traded in a 24-hour range of $1,162 (1.13%), from a low of $104,624 to a high of $105,786, according to CoinDesk Research’s technical analysis model.
- Strong support formed at $104,800, where above-average volume confirmed buyer interest.
- Resistance at $105,200 was broken and has since flipped into a short-term support zone.
- Volume peaked at 378 BTC during key breakout moments, especially around 13:43–13:46 and 13:53.
- A short consolidation occurred between $104,300–$104,600 before the final surge to near highs.
- An ascending price channel remains intact, showing bullish structure despite intermittent pullbacks.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Siamak Masnavi is a researcher specializing in blockchain technology, cryptocurrency regulations, and macroeconomic trends shaping the crypto market. He holds a PhD in computer science from the University of London and began his career in software development, including four years in the banking industry in the City of London and Zurich. In April 2018, Siamak transitioned to writing about cryptocurrency news, focusing on journalism until January 2025, when he shifted exclusively to research on the aforementioned topics.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.
