Bitcoin surged above $60,000 following speculation that Donald Trump’s chances of winning the presidential election have increased after his defiant response to an assassination attempt.
The former president, who has supported crypto, was shot in the right ear during a political rally in Pennsylvania on Saturday. His campaign reported that he is “fine” and looking forward to attending the Republican National Convention in Milwaukee starting on Monday.
Trump’s Re-Election Odds Improve After Attack
Trump’s chances of winning the presidency again have reportedly increased following today’s events, according to PredictIt data. Defiant images of Trump—showing him with his fist raised and his bloody right ear, with the American flag in the background—are widely circulating on social media and television after the attack.
President Joe Biden has expressed relief that Trump is safe and condemned the violence.
Market Volatility and Bitcoin’s Response to Trump’s Attack
Markets are expected to experience higher volatility, potentially mirroring the trading patterns seen when last month’s debate favored Trump. During that time, the US dollar strengthened, and Treasury yields increased.
Bitcoin surged as much as 2.7% to $60,160.71 as of 1:05 a.m. in New York. Recently, the leading cryptocurrency had stabilized, driven by optimism that ETFs from major players like BlackRock Inc. and Fidelity Investments could provide steady demand and reduce price fluctuations.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
Join Cryptos Headlines Community
Follow Cryptos Headlines on Google News
