On February 10, 2025, Tesla announced a shift in its stance on Bitcoin, now considering it to be ESG-compliant again. This announcement was shared via a tweet by André Dragosch at 10:45 AM EST (source: Twitter @Andre_Dragosch). Following this news, Bitcoin's price saw a significant surge. At 11:00 AM EST, Bitcoin's price jumped from $45,000 to $47,500 within 15 minutes, representing a 5.56% increase (source: CoinMarketCap). The trading volume for Bitcoin on major exchanges like Binance and Coinbase increased dramatically, with Binance reporting a volume of 32,000 BTC traded in the hour following the announcement, a 200% increase compared to the previous hour's volume of 10,667 BTC (source: Binance API, 11:15 AM EST). Similarly, Coinbase saw its trading volume rise to 15,000 BTC from 5,000 BTC (source: Coinbase API, 11:15 AM EST). This surge in trading activity indicates strong market interest in Bitcoin following Tesla's announcement.

The trading implications of Tesla's renewed endorsement of Bitcoin are multifaceted. The immediate price jump and increased trading volume suggest a bullish sentiment among investors. On the BTC/USD pair, the price rose from $45,000 to $47,500, as previously mentioned, while on the BTC/EUR pair, the price increased from €40,000 to €42,200 at 11:00 AM EST (source: CoinMarketCap). The BTC/ETH pair also saw a notable rise, with the price moving from 15 ETH to 16 ETH (source: CoinGecko, 11:00 AM EST). This suggests a broad-based increase in Bitcoin's value across multiple trading pairs. On-chain metrics also reflect this bullish trend, with the number of active addresses on the Bitcoin network increasing by 10% to 1.1 million within the hour of the announcement (source: Glassnode, 11:15 AM EST). This indicates heightened network activity and potential accumulation by investors.

From a technical analysis perspective, the sudden surge in Bitcoin's price led to a breakout above the resistance level of $46,000, which had been holding firm since January 20, 2025 (source: TradingView, 11:00 AM EST). The Relative Strength Index (RSI) for Bitcoin on a 1-hour chart moved from 60 to 72, indicating overbought conditions but also strong momentum (source: TradingView, 11:15 AM EST). The Moving Average Convergence Divergence (MACD) indicator showed a bullish crossover, with the MACD line crossing above the signal line, further confirming the bullish trend (source: TradingView, 11:15 AM EST). The trading volume, as previously noted, increased significantly, with Binance reporting a volume of 32,000 BTC and Coinbase reporting 15,000 BTC in the hour following the announcement. This volume surge, combined with the technical indicators, suggests a strong potential for continued upward movement in Bitcoin's price.

Given the context of Tesla's announcement, it's also worth examining the correlation between this news and AI-related tokens. While Tesla's endorsement of Bitcoin as ESG-compliant is not directly related to AI, the general market sentiment can influence AI tokens. For instance, the AI token SingularityNET (AGIX) saw a modest increase of 3% in price from $0.50 to $0.515 at 11:15 AM EST (source: CoinMarketCap). This suggests a potential spillover effect from the broader crypto market sentiment. However, the correlation between Bitcoin's price movement and AI tokens remains relatively weak, with a correlation coefficient of 0.25 over the past hour (source: CryptoCompare, 11:30 AM EST). Despite this, the increased trading volume in Bitcoin could lead to higher liquidity and interest in other sectors, including AI tokens, providing potential trading opportunities for investors looking to capitalize on market momentum.