"Trump–Musk Split Could Increase Chances of Market Rebound"

JOON HYOUNG LEE

Summary

Santiment reported that the split between President Trump and CEO Musk could raise the possibility of a rebound in the virtual asset market.
On news of the split, the price of Bitcoin plunged to $101,500 in the short term but quickly rebounded to the $105,000 range.
Santiment emphasized that when there is a surge in mentions of major virtual asset figures, the likelihood of a market reversal also tends to increase.

There are observations that the conflict between Donald Trump, President of the United States, and Elon Musk, CEO of Tesla, could heighten the likelihood of a rebound in the virtual asset market.

The on-chain analytics platform Santiment stated on its official X account on the 7th (local time), "There are concerns that the public split between President Trump and CEO Musk could trigger a long-term bearish trend in the virtual asset market," adding, "As an immediate initial reaction to the split, heavy selling quickly appeared, and the price of Bitcoin even plunged to $101,500."

Santiment stressed, "However, this event could develop as a 'sell the rumor, buy the news' type of incident." Santiment further explained, "After the sharp drop, Bitcoin rebounded rapidly to the $105,000 range," and noted, "In general, when the volume of mentions regarding major virtual asset figures surges, the likelihood of a market reversal also tends to increase."

BTC