In a shocking turn of events, Bitcoin has surpassed the $60,000 mark following an assassination attempt on former President Donald Trump at a political rally in Pennsylvania. The incident, which saw Trump shot in the right ear, has unexpectedly influenced crypto markets, with Bitcoin rising as much as 2.7% to $60,160.71 as of early morning in New York.
The market’s reaction appears to be linked to speculation that Trump’s defiant response to the attack may have increased his chances of winning the upcoming presidential election. Trump, who has positioned himself as pro-cryptocurrency during his campaign, was reported to be “fine” after the incident and is expected to attend the Republican National Convention in Milwaukee. PredictIt data suggests that Trump’s odds of returning to the presidency have improved in the wake of these developments.
The crypto market’s response to this political event highlights the increasing interconnectedness between digital assets and broader geopolitical factors. Analysts suggest that markets may experience higher volatility in the coming days, potentially mirroring reactions seen after previous political events favorable to Trump. While Bitcoin’s price surge is notable, it’s worth mentioning that the cryptocurrency had recently stabilized due to optimism surrounding ETF offerings from major financial institutions like BlackRock Inc. and Fidelity Investments, which are expected to provide more stable demand for the digital asset.
