web3.0Cryptocurrency prices and stocks rallied Monday after former President Donald Trump\'s odds of retaking the White House jumped following an assassination attempt on Saturday
Bitcoin rebounded above $63,000 to its highest price the beginning of July.
Former President Donald Trump's odds of retaking the White House improved after an assassination attempt on Saturday, boosting cryptocurrency prices and stocks on Monday. Bitcoin rebounded above $63,000 for the first time since early July.
A gunman fired several shots at a Trump campaign rally in western Pennsylvania on Saturday evening. Trump appeared to be grazed on his right ear by a bullet and said on his Truth Social site that he was "shot."
One rally attendee was killed in the shooting and two others were left in critical condition. Federal authorities called it an assassination attempt and identified Pennsylvania native Thomas Matthew Crooks, 20, as the shooter. A Secret Service sniper shot and killed Crooks seconds after the incident began.
Trump's odds of retaking the White House jumped to 66% on PredictIt, up from about 60% before the shooting at Saturday's rally. Trump's chances were about 53% prior to the first presidential debate.
Meanwhile, Trump on Monday selected pro-cryptocurrency Senator J.D. Vance (R-Ohio) as his vice presidential candidate.
Bitcoin Price Action
Cryptocurrencies rallied in response to Trump's improving odds. He is seen as a more crypto-friendly candidate than President Joe Biden.
Bitcoin's price leapt to around $63,500 on Monday after trading below $59,000 before the assassination attempt. The move pushed bitcoin back above its 200-day moving average at $59,308, TradingView data shows. Bitcoin last traded above $63,000 on July 1.
Ethereum surged to around $3,415 by Monday afternoon, up from trading above $3,100 before the rally shooting. Most of ethereum's gains came on Sunday and ETH is trading back at its early-July levels.
Crypto exchange Coinbase (COIN) rallied 11.4% Monday to bounce back above its 50-day moving average. COIN stock is consolidating with a 283.43 buy point.
Among bitcoin miners, Marathon Digital (MARA) vaulted 18.3% Monday while CleanSpark (CLSK) bolted 15.5%. Hut 8 (HUT) rallied 17.9% and Core Scientific (CORZ) swung 9% higher. Iris Energy (IREN) reversed lower to slide 2.6% Monday following a 5% jump in early trade.
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