Bitcoin's price surged above $60,000 after Donald Trump's defiant response to an assassination attempt sparked speculation that the incident would boost his chances of winning the presidential election.
The former president, a cryptocurrency advocate, was shot in the right ear after his political rally in Pennsylvania came under fire on Saturday. His campaign said he was fine after the incident and was looking forward to attending the Republican National Convention, which begins Monday in Milwaukee.
Trump's chances of winning the presidency have increased again after yesterday's developments, according to data from the PredictIt website. Images of Trump with a defiant fist raised, his right ear bloodied, and the American flag waving in the background were widely shared on social media and on television after the attack.
Trump's campaign said he would attend the convention. President Joe Biden said he was glad Trump was safe and condemned the attack.
Market volatility is likely to increase as a result, and there could be a repeat of the trades that took place after last month’s debate, which went in Trump’s favor. The dollar and Treasury yields rose.
Bitcoin Rise
Bitcoin rose 2.7% to $60,160, as of 1:05 a.m. New York time.
The most traded cryptocurrencies have stabilized in the past few days amid optimism that exchange-traded funds from giants including BlackRock and Fidelity Investments are providing supportive demand that could mitigate price volatility.
