Bitcoin (BTC-USD) Has Been Trading Higher Leading Up to and Following the Assassination Attempt on Former President Donald Trump

The cryptocurrency rose above $63,000 in Monday's session, now hovering below $64,000.

Former President Donald Trump was the target of an assassination attempt over the weekend in New York City. The would-be assassin was reportedly armed with an AR-15 and was attempting to gain entry to Trump's residence at Trump Tower in Manhattan.

The Secret Service intercepted the individual before they could reach the former president's home. Trump was not present at the time of the incident.

The assassination attempt on Trump comes amid heightened political tensions in the U.S. following the January 6 Capitol riot and ahead of the upcoming midterm elections.

The incident also occurred on the same day as the National Rifle Association's (NRA) annual meeting in Houston, Texas. Trump is scheduled to speak at the event on Friday.

Following the assassination attempt, the price of Bitcoin (BTC-USD) rose sharply, reaching levels not seen since March.

According to data from Investing.com, Bitcoin rose by 6.38% on Monday, reaching a price of $63,843 by 11:08 AM ET.

The increase in the price of Bitcoin follows a broader trend of rising cryptocurrency prices on Monday. Among the top cryptocurrencies, Solana (SOL-USD) and Ether (ETH-USD) also saw significant gains.

Over the past three days, the price of Bitcoin has risen sharply following the assassination attempt on Trump.

On Saturday, the price of Bitcoin soared to nearly $120,000 following the news of the shooting.

Over the past year, the price of Bitcoin has fluctuated significantly, with several attempts to break through the $60,000 price level.

The 60,000 price level has served as a crucial support level for Bitcoin throughout 2023. Several attempts to break below this level have been met with strong buying pressure, indicating bullish sentiment among traders.

In March, following a false breakout below the 60,000 price level, Bitcoin quickly recovered and surged to new highs. However, this rally was short-lived as a more substantial breakout occurred in early May, leading to a sharp decline in the price of Bitcoin.

This sell-off coincided with the German authorities announcing the release of 50,000 Bitcoin from an unwinding event, impacting the price of Bitcoin in the process.

Despite the price fluctuations, Bitcoin has remained within a bullish technical setup, with higher lows and highs being formed on a longer time frame.

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