18h00 ▪
3
min of reading ▪ by
The attempted assassination of Donald Trump will have major repercussions on the upcoming November elections, but the effects on Bitcoin and other cryptocurrencies are already being felt. In fact, Bitcoin surpassed the $60,000 mark, propelled by political uncertainty and investor optimism.
Trump’s attack propels Bitcoin
The attack against 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 surged. Bitcoin also jumped, crossing $60,000 to reach $63,000 at the time of publication.
The volatility of the crypto market, often driven by political events, was particularly sensitive to this news.
Increased liquidity followed. Investors, reassured by Trump’s health, boosted their confidence in digital assets, contributing to this dramatic rise.
The Trump effect, as a pro-Bitcoin candidate, has thus played a key role in this dynamic.
Massive liquidations and bullish sentiment
The rise of Bitcoin has been accompanied by massive liquidation of short positions, with $65.6 million liquidated in 24 hours. This phenomenon reflects a strong bullish trend among traders, who anticipate further gains following this incident.
At the same time, market analyses show growing enthusiasm for cryptos, including meme coins like Trump (MAGA) which saw a 40.3% increase in value.
These reactions clearly illustrate the political leverage on the crypto market, where every piece of news can trigger significant financial movements.
“The irony is that even memes benefit from political dramas“, notes a Santiment analyst.
Trump’s crypto wallets
The impact of this incident also extends to Trump’s crypto wallets, which have seen a significant increase. According to Arkham, his crypto assets now amount to $10.8 million. His portfolio 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.
Despite this increase, the total value of his assets remains below the peak of $31 million reached in June. This diversification highlights Trump’s involvement in various aspects of the crypto market, reflecting a diversified investment strategy.
Maximize your Cointribune experience with our ‘Read to Earn’ program! Earn points for each article you read and gain access to exclusive rewards. Sign up now and start accruing benefits.
Click here to join ‘Read to Earn’ and turn your passion for crypto into rewards!
La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
