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The Bitcoin price climbed 1.3% in the last 24 hours to trade $105,797 as of 6:23 p.m. EST on a 44% plunge in its daily trading volume to $17.5 billion.
The BTC price rose even as President Donald Trump warned Elon Musk of “very serious consequences” if he funds Democratic candidates.
In an interview with NBC News, Trump said Musk is “disrespectful to the office of the President,” and added that he assumed their relationship is over.
BREAKING: Trump says Elon Musk will face 'very serious consequences' if he funds Democratic candidates
— Fox News (@FoxNews) June 7, 2025
As the two giants trade barbs, the crypto king is eying a key breakout from a bullish reversal pattern. Could this be the breakout many investors have been waiting for?
Bitcoin Price Targets A Breakout From A Falling Channel
The BTC/USD 12-hour chart paints a bullish picture for the asset. The price action shows BTC breaking out of a falling channel, a classic signal that the bulls are taking charge.
That green 50-day Simple Moving Average (SMA) at $106,030 is acting like a solid resistance level, while the 200-day SMA at $92,557 supports the long-term trend.
The recent candlestick action, with a high of $111,913 and a low of $90,250 over May, signals major volatility, but that’s normal for BTC price.
BTCUSDT Analysis Source: Tradingview
The Relative Strength Index (RSI) at 52.09 sits in neutral territory, hinting there’s room to run before overbought territory kicks in. Meanwhile, the Moving Average Convergence Divergence (MACD) shows a bullish crossover is imminent, with the MACD line trending upward.
Bitcoin Price Might Soar 5.8% This Week
The chart also indicates a potential push toward $110,000 to $115,000 level if this momentum holds. The current breakout underway above the falling channel signals a possible retest of the all-time high near $112,000.
However, Trump’s warning to Musk could stir the pot of political rivalry. If the United States political landscape heats up (in a negative way), Bitcoin price might see a dip back to the $98,000 — $100,000 support zone. Nevertheless, with institutional FOMO kicking in, the optimism among investors bets on a moonshot.
For now, BTC’s technicals are looking jacked, suggesting the market is ignoring the Musk-Trump drama. Whether Trump’s “consequences” are a bluff or a real threat, one thing’s clear: Bitcoin’s not sweating it.
Bitcoin Hyper Presale Closes On $1M – Next Big Crypto?
Even as the Bitcoin price boasts robust performance in the face of potential political uncertainty, investors are flocking to the Bitcoin Hyper (HYPER) presale as it soars past $738k.
Bitcoin Hyper is here to streamline BTC payments with lower fees and faster settlements. Imagine sending Bitcoin to a friend and waiting an hour for it to confirm, or paying $10 in fees for a $20 transaction. These long-standing frustrations are exactly what Bitcoin Hyper aims to fix.
It uses the Solana Virtual Machine (SVM) to bring lightning-fast transactions, and fees so low that users will barely notice them. Users send their BTC to a special address via the Canonical Bridge.
A smart contract, called the Bitcoin Relay Program, verifies the transaction by checking Bitcoin’s blockchain. Once confirmed, the user gets an equivalent amount of Bitcoin on Hyper’s Layer 2 network, where they can send, stake, or trade it instantly.
$HYPER is the best part of any balanced day. ⚡️
Don't start yours without it 😉 pic.twitter.com/fqxiXZJH5e
— Bitcoin Hyper (@BTC_Hyper2) June 7, 2025
The system uses zero-knowledge proofs to keep everything secure, and the user’s Bitcoin stays tied to the main chain’s rock-solid security. When ready, the user can withdraw to regular Bitcoin with ease.
Buy And Stake HYPER Now To Enjoy 1,015% APY
The HYPER token is the native asset of the Bitcoin Hyper L2 network and offers staking rewards of up to 1,052% APY right now. The rate reduces as more investors stake their tokens, so it’s best to get in early. With 30% of tokens set aside for development and 10% for exchange listings, the team is gearing up for growth.
That is a key reason why crypto analyst and YouTuber Crypto Boy, who has over 61K subscribers, says that HYPER is an amazing project.
Bitcoin Hyper’s presale is on sale for $0.0118 per token and it can be bought with crypto or a bank card.
Interested investors should buy it before a price hike in about 12 hours.
Visit the Bitcoin Hyper Presale
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