Tesla intraday gains widen to 5%, trading at USD 324.028 per share.

Tesla intraday gains widen to 5%, trading at USD 324.028 per share.

Tesla (TSLA) stock experienced a significant intraday gain of 5%, trading at USD 324.028 per share as of 06/11/2025. This surge comes on the heels of President Trump publicly expressing his continued support for Tesla. The positive sentiment surrounding Tesla has spilled over into the crypto market, with notable increases in trading volumes and prices for Bitcoin (BTC) and Ethereum (ETH) [1].

According to The Kobeissi Letter, Tesla stock ($TSLA) surged over 5% after President Trump publicly stated he is not getting rid of his Tesla. This high-profile endorsement contributed to increased trading volume and bullish sentiment around $TSLA, with potential spillover effects on crypto markets that track tech stock momentum [1].

On the same day, Bitcoin (BTC/USD) saw a modest uptick of 1.2%, moving from $69,400 to $70,230 between 10:00 AM and 3:00 PM EDT on major exchanges like Binance and Coinbase. Trading volume for BTC also spiked by 8% during this window, with over $12.3 billion worth of Bitcoin changing hands, indicating heightened market activity. Ethereum (ETH/USD) mirrored this trend, gaining 1.5% to reach $3,680 by 3:00 PM EDT, with a trading volume increase of 6.5% to $5.8 billion [1].

The surge in Tesla’s stock price could signal renewed risk appetite in markets, often correlating with bullish movements in cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). For crypto enthusiasts and traders, this stock market event presents a unique opportunity to analyze cross-market dynamics, especially as institutional investors often rotate capital between high-growth stocks and digital assets [1].

From a technical perspective, the crypto market’s reaction to Tesla’s stock surge on June 9, 2025, provides actionable insights for traders. Bitcoin’s price movement, as observed at 3:00 PM EDT, showed a break above its 50-hour moving average of $69,800 on the 1-hour chart, signaling short-term bullish momentum. The Relative Strength Index (RSI) for BTC stood at 58, indicating room for further upside before entering overbought territory. Ethereum displayed similar strength, with its price at $3,680 crossing the $3,650 resistance level by 3:00 PM EDT, backed by a MACD line crossing above the signal line on the 4-hour chart [1].

The institutional impact of Tesla’s stock movement on June 9, 2025, cannot be overlooked for crypto traders. Tesla’s historical association with Bitcoin and Elon Musk’s influence on market sentiment often drive speculative trading in crypto-related assets. Crypto-focused ETFs, such as the Bitwise DeFi & Crypto Industry ETF, saw a 2.1% uptick in trading volume by 3:00 PM EDT, reflecting indirect exposure to Tesla’s rally. Institutional money flow, often tracked via large BTC transactions on-chain, showed a 4.5% increase in transactions over $100,000 within hours of the Tesla news, hinting at whale activity [1].

For traders, this cross-market dynamic between $TSLA and crypto assets like BTC and ETH underscores the importance of monitoring stock market events for potential trading opportunities. Long positions on BTC and ETH could be considered if Tesla’s bullish momentum persists, while stop-loss orders below key support levels—such as $69,000 for BTC as of 3:00 PM EDT—can mitigate downside risks [1].

References:
[1] https://blockchain.news/flashnews/tesla-stock-surges-5-after-trump-publicly-supports-tesla-impact-on-tsla-and-crypto-market