Bitcoin surges past $60K as Trump survives assassination attempt

On Saturday, during Donald Trump's political rally in Pennsylvania, there was a shooting. The former president was hit in the right ear, but according to his campaign staff, he is "in good condition" and plans to attend the Republican Convention starting Monday in Milwaukee.

The market's first reaction to these events was an increase in the price of Bitcoin by 2.7% to $60,161. Analysts link this rise to increased Trump's chances of being re-elected as president, as shown by data from the PredictIt platform.

The rise in Bitcoin above $60,000 follows a period of relative stability. This was mainly due to introducing new financial instruments facilitating cryptocurrency trading – ETF funds. This allowed large-scale transactions by market giants such as BlackRock Inc. and Fidelity Investments. Experts believe that such financial instruments can ensure lasting demand for the cryptocurrency and contribute to reducing its price volatility.

Market analysts point out that the perception of Trump as a politician favouring cryptocurrencies may have an additional impact on bitcoin prices in the context of the upcoming presidential elections.

Social media and television were flooded with images of Trump with a clenched fist raised above his head, a bloody right ear, and the American flag waving in the background. These images could significantly impact public opinion and the election campaign.

The current president, Joe Biden, commented on the incident. He expressed relief that Trump is safe and condemned the act of violence. Experts predict that on Monday, the markets might react with increased volatility, similar to what happened after the last debate, which benefited Trump. The US dollar gained value at that time, and Treasury bond yields increased.