Bitcoin Surges 5.34% Following Assassination Attempt on Donald Trump

Bitcoin Surges 5.34% After Assassination Attempt on Donald Trump

Bitcoin Surges 5.34% in early-morning trading on Monday as markets respond to the assassination attempt on former U.S. President Donald Trump. The cryptocurrency, the largest by market capitalization, has risen 5% over the past 24 hours to reach $62,903. This increase is part of the broader market reaction to the weekend’s shocking events.

Impact of Trump’s Assassination Attempt

The assassination attempt on Trump could change the upcoming November presidential election dynamics. Gunmen shot and injured Trump at a Pennsylvania rally late Saturday. The FBI is investigating this incident as an assassination attempt on Trump. The Secret Service confirmed Trump’s safety, sparking speculation and market movements.

The assassination attempt on Trump could disrupt the election dynamics, sparking speculation and market volatility, according to WSJ Subscription Offers.

Trump’s Pro-Crypto Stance

Dan Coatsworth, an investment analyst at AJ Bell, said traders are energized by Trump’s perceived pro-crypto stance. Trump’s campaign began accepting cryptocurrency donations in mid-May, and the Republican National Committee pledged to advocate for crypto in its policy platform. Traders believe Trump’s strengthened position in the presidential race supports assets that could benefit from his return to power. Many view Trump as more pro-Bitcoin than President Joe Biden.


French Regulators Prepare Antitrust Charges Against Nvidia

French Regulators Prepare Antitrust Charges Against Nvidia

French Regulators Prepare Antitrust proceedings against Nvidia Corp., formally accusing the leading chipmaker of engaging…


Other “Trump Trades” and Market Reactions

In addition to Bitcoin, several other so-called “Trump trades” experienced rallies prior to Monday’s market opening. For example, the U.S. dollar saw notable gains as traders adjusted their positions in response to the recent geopolitical developments. This adjustment reflects a broader market sentiment influenced by the current administration’s policies and their impact on global economic conditions.

Broader Cryptocurrency Market Gains

Other digital currencies also saw gains on Monday. Ether (ETHUSD), the second-largest token by market cap, climbed 4.2% to $3,337. Altcoins Solana and Cardano increased by 5.9% and 2.7%, respectively, while memecoin Dogecoin (DOGEUSD), previously promoted by Tesla CEO Elon Musk, rose 5.1% to $0.12.

Crypto Stocks Rally

The positive sentiment extended to crypto stocks, which also rallied impressively at the opening bell. Coinbase (COIN) experienced a notable surge, with its stock price climbing by 7.9%. Meanwhile, MicroStrategy (MSTR), known for its significant Bitcoin holdings, saw an even more substantial rise of 9%. This strong performance in the crypto sector reflected growing investor confidence and optimism.


Get an exceptional 77% discount by bundling your subscriptions to The Washington Post and The New York Times. Enjoy premium journalism with seamless 24/7 digital access, ideal for professionals, students, and avid readers. Stay informed effortlessly during commutes, downtime, or travels.