Bitcoin (BTC) Soars Past $60,000 Mark in the Wake of Assassination Attempt on Donald Trump-web3.0-php.cn

Bitcoin (BTC) Soars Past $60,000 Mark in the Wake of Assassination Attempt on Donald Trump

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Jul 16, 2024 pm 07:13 PM

Within the wake of an assassination try on former President Donald Trump, Bitcoin‘s BTC/USD worth has soared past the $60,000 mark.

Bitcoin (BTC) Soars Past ,000 Mark in the Wake of Assassination Attempt on Donald Trump

Former President Donald Trump survived an assassination attempt at a political rally in Pennsylvania on Saturday evening, an incident that has sparked renewed speculation about his chances of being re-elected.

Trump was the target of a gunman who fired multiple shots into the crowd at the rally. The former president was quickly evacuated from the stage by Secret Service agents and taken to a secure location.

According to Trump's campaign, he is “doing great” and is looking forward to making an appearance at the Republican National Convention in Milwaukee, which begins on Monday.

Following the shooting incident, Trump's odds of making a presidential comeback have surged, according to reports from Bloomberg. The markets are also expected to respond with increased volatility, which could be reflected in trading patterns.

For instance, when Trump performed well in a debate last month, the markets responded with a surge in the U.S. dollar and Treasury yields.

Bitcoin Surges Past $60K: As of 1:05 a.m. ET in New York, Bitcoin is trading at $60,160.71, reflecting a 2.7% increase. The world’s leading crypto token has seen relative stability recently.

However, there is optimism that ETFs from industry heavyweights like BlackRock Inc. (NYSE:BLK) and Fidelity Investments will generate the strong demand needed to moderate price fluctuations.

At the time of writing, Bitcoin was trading at $60,104.80, up 6% over the last seven days.

The incident at Trump's rally has impacted not only political speculations but also the financial markets, especially the cryptocurrency sector.

Trump's pro-crypto stance has been a key factor in driving up the price of Bitcoin and the potential of his re-election has stirred the market, leading to the surge in Bitcoin.

Moreover, the anticipated market volatility could lead to further fluctuations in Bitcoin's price, making it a crucial point of focus for investors and market watchers.

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