Crypto Market Rallies As Donald Trump’s Assassination Attempt Might Boost His Winning Chances, Bitcoin Above $60,000

Bitcoin has surged above $60,000 following former President Donald Trump’s defiant response to an assassination attempt, fueling speculation that his chances of winning the presidential election have improved.

Trump, who has presented himself as pro-crypto, stated he was shot in the right ear during a political rally in Pennsylvania on Saturday as per a report by The Economic Times.

His campaign reported that he was “fine” after the incident and looking forward to attending the Republican National Convention, which begins on Monday in Milwaukee.

Images of a defiant Trump — with his fist raised, his right ear bloodied, and the American flag waving in the background — have flooded social media and television after the attack.

Markets are likely to respond with higher volatility, potentially repeating the trades seen when last month’s debate favored Trump, which led to gains in the US dollar and Treasury yields.

Bitcoin rose as much as 2.7 per cent to $60,160.71 as of 1:05 a.m. in New York. The most-traded cryptocurrency had stabilised in recent days due to optimism that ETFs from major firms like BlackRock Inc. and Fidelity Investments provide a solid foundation that can temper price swings.