Markets
Bitcoin, Ethereum, Dogecoin Rebound as Market Reacts Positively to Trump Assassination Attempt: Analyst Predicts King Crypto Pullback Before Rallying to $63.8K
Major cryptocurrencies rallied sharply on Sunday on what appeared to be a bullish trend regarding the presidential candidate. Donald Trump surviving an assassination attempt.
| Cryptocurrency | Earnings +/- | Price (recorded at 8:30pm EDT) |
| Bitcoin BTC/USD | +2.48% | $60,940.25 |
| Ethereum ETH/USD |
+2.48% | $3,257.69 |
| Dogecoin DOGE/USD | +2.41% | $0.1139 |
What happened: Bitcoin rose to a 10-day high of $61,300 as the world woke up to news of former President Donald Trump escaping an assassination attempt at a campaign rally. The second largest cryptocurrency, Ethereum, also hit a 10-day high of $3,280.
In the past 24 hours, 36,505 traders were liquidated, with total liquidations of $94.39 million. Over $70 million worth of bearish bets were wiped out.
The rally caused a 2.87% increase in funds invested in Bitcoin derivatives contracts. Such a scenario typically signals bullish sentiment in the market.
Furthermore, the number of traders who placed long and bullish bets on the cryptocurrency has increased dramatically compared to those who placed short and bearish bets in the past 24 hours.
The Cryptocurrency Fear and Greed Index has improved to “Neutral” at the time of writing, after days of “Fear” sentiment.
Top Earners (24 hours)
| Cryptocurrency | Earnings +/- | Price (recorded at 8:30pm EDT) |
| Mog Coin (MOG) | +12.80% | $0.0000019 |
| Hang (PENDENCY) | +11.99% | $4.26 |
| Bittensor (SO) | +8.99% | $281.37 |
The global cryptocurrency market cap is $2.23 trillion, after a 1.81% increase in the last 24 hours.
Stock futures rose slightly during overnight trading. Dow Jones Industrial Average Futures gained 60 points, or 0.16%, as of 8:30 p.m. EDT. Futures linked to the S&P 500 Index rose 0.15%, while Nasdaq 100 Futures rose 0.21%.
Major stock indexes ended another bullish week, with the Dow and the broader market index, the S&P 500, hitting all-time highs.
Investors will closely monitor developments surrounding the Trump assassination attempt and its likely impact on markets.
View more: Best Cryptocurrency Scanners
Analyst Notes: Popular on-chain analytics company Sanctification interpreted the rally as a market “uptrend” toward a pro-Trump development.
“It goes without saying that surviving an assassination attempt is perceived as pro-Trump news. So optimistic responses occurred as a result,” Santiment noted.
The firm predicted that developments surrounding US politics will continue to influence the market, at least for the rest of the year.
Prominent Cryptocurrency Analyst Ali Martinez predicted a retest of $59,200 for Bitcoin before rallying to $63,800.
Another widely followed analyst, Capital Rektsaid a weekly close above $60,750 would make last week’s decline a false breakout.
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