Bitcoin at $63,000: What does it have to do with the attack on Trump?

The attempted assassination of Donald Trump will have major repercussions for the November elections, but the effects on the price of bitcoin and other cryptocurrencies are already being felt. Indeed, bitcoin has broken through the $60,000 mark, propelled by political uncertainty and investor optimism.

Trump attack propels bitcoin

The attack on Donald Trump, which occurred during a rally in Pennsylvania, had an immediate impact on the cryptocurrency market. As soon as the news of his survival broke, altcoins exploded. Bitcoin also surged, crossing $60,000 to reach $63,000 at press time.

There crypto market volatilityoften fueled by political events, was particularly sensitive to this news.

Increased liquidity followed. Investors, reassured by Trump’s health, increased their confidence in digital assets, contributing to this spectacular rise.

The Trump effect, as a pro-bitcoin candidatetherefore played a key role in this dynamic.

bitcoin-63,000 dollarsbitcoin-63,000 dollars
Bitcoin Price Evolution – Source: CoinGecko

Massive liquidations and bullish sentiment

Bitcoin's rise is accompanied by a Massive liquidation of short positionswith $65.6 million liquidated within 24 hours. This phenomenon reflects a strong bullish trend among traders, who anticipate additional gains following this incident.

At the same time, market analyses show a growing craze for cryptocurrencies, including meme currencies like Trump (MAGA) who saw a 40.3% increase of its value.

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These reactions illustrate the political leverage in the crypto market, where any news can generate significant financial movements.

The irony is that even memes profit from political drama. ” notes a Santiment analyst.

Trump's Crypto Wallets

The impact of this incident also extends to Trump’s crypto portfolios, which have seen a significant increase. According to Arkham, his crypto assets now stand at $10.8 million. His breakdown includes:

  • 210.345 billion TROG, valued at approximately $2.27 million;
  • 579,290 TRUMP, with a market value of $4.95 million;
  • 490,449 ETH, totaling approximately $1.57 million;
  • 377,191 WETH, worth approximately $1.2 million.
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Despite this increase, the total value of its assets remains lower than peak of $31 million reached in JuneThis diversification highlights Trump's involvement in various aspects of the crypto market, reflecting a diversified investment strategy.

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