Bitcoin hits $60,000 as Trump shooting boosts re-election chances

Bitcoin rose above $60,000 after Donald TrumpHis defiant response to an assassination attempt has sparked speculation that his chances of winning the presidential election have increased.

The former president, who has positioned himself as pro-crypto, said he was shot in the right ear after gunfire erupted at his political rally in Pennsylvania on Saturday. His campaign said he was “fine” after the incident and looking forward to the Republican National Convention that begins Monday in Milwaukee.

Trump’s chances of becoming president again have increased after today’s events, according to data from PredictIt. Images of a defiant Trump — with his fist raised above his head and his right ear bloodied, with the American flag waving in the background — have been circulating on social media and on television in the wake of the attack.

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President Joe Biden said he was glad Trump was safe and condemned the violence. Markets are likely to respond with increased volatility and could repeat the trades that occurred when last month’s debate went in Trump’s favor. In that case, the U.S. dollar gained and Treasury yields rose. Bitcoin rose as much as 2.7% to $60,160.71 as of 1:05 a.m. in New York. The most traded Cryptocurrency The token has stabilized in recent days on optimism that ETFs from giants such as BlackRock Inc. and Fidelity Investments provide the kind of underlying demand that could moderate price swings.

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