Bitcoin (BTC) Soars Past $60,000 Mark Following Assassination Attempt on Donald Trump

In the wake of an assassination attempt on former President Donald Trump, Bitcoin‘s BTC/USD value has soared beyond the $60,000 mark.

Bitcoin (CRYPTO: BTC) price surged past the $60,000 mark Monday morning following an assassination attempt on former President Donald Trump.

The incident, which occurred during a political rally in Pennsylvania on Saturday, has sparked fresh speculations about Trump’s chances of re-election, which appear to be rising following the shooting.

Trump, known for his pro-crypto stance, is expected to attend the Republican National Convention in Milwaukee, which begins Monday.

According to Bloomberg, Trump’s odds of making a presidential comeback have surged following the shooting.

The markets are likely to respond with increased volatility, possibly reflecting the trading patterns observed when last month’s debate favored Trump, leading to a rise in the U.S. dollar and Treasury yields.

Bitcoin price now: At 1:05 a.m. in New York, Bitcoin price witnessed a 2.7% increase, hitting $60,160.71.

The widely-used crypto token’s price has recently displayed stability, fueled by optimism that ETFs from industry heavyweights like BlackRock Inc (NYSE:BLK) and Fidelity Investments can generate the robust demand required to temper price fluctuations.

At the time of writing, Bitcoin was trading at $60,104.80, up by 6% in the last seven days.

Incident Impact on Markets, CryptoThe incident at Trump’s rally impacted not only political speculations but also influenced the financial markets, particularly the cryptocurrency sector.

Trump’s pro-crypto stance has been a significant factor in driving the value of Bitcoin. The potential of his re-election has stirred the market, leading to Bitcoin’s surge.

Furthermore, the expected market volatility could lead to more fluctuations in Bitcoin’s price, making it a critical point of focus for investors and market watchers.

This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

Photo: Shutterstock

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