Markets
Cryptocurrency Markets React Strongly to Donald Trump Assassination Attempt
Yesterday’s assassination attempt on Donald Trump caused an immediate reaction in cryptocurrency markets. Bitcoin (BTC) recovered to $60.3K, marking a 10-day high.
Meanwhile, the $TRUMP The token surged 63% when the news broke.
Given the gravity of any assassination attempt on a public or non-public figure, combined with the diverse political views of the crypto community, it is clear that a bullish bias has emerged around the 2024 US presidential candidate. As the fall election approaches, the crypto community has generally responded positively to pro-Trump news, largely due to his recent pro-crypto comments. Surviving an assassination attempt is perceived as pro-Trump news, which has led to bullish responses from the market.
Regardless of political stance, it is important to note that such market reactions are likely to continue with any major US political news throughout the remainder of 2024, especially in the speculation-driven cryptocurrency sector.
🇺🇸 The assassination attempt on Donald Trump occurred approximately 8 hours ago, and cryptocurrency markets reacted immediately.
📈BTC recovered to $60.3K, a 10-day high
📈TRUMP rose +63% with the release of the newsConsidering the gravity of any murder… photo.twitter.com/hUHKIhF5Zh
— Santiment (@santimentfeed) July 14, 2024
Trump’s speech yesterday sent the $TRUMP token soaring 70% in less than an hour. However, negative news has sent the token down 34% in the past 24 hours, according to crypto AI data.
Smart Money Exchange $TRUMP for $Mog? 🫣
In yesterday’s speech, $TRUMP increased 70% in less than an hour, but negative news caused this meme to fall 34% in the last 24 hours.
On the other hand, some meme tokens like $FIGHT (+600%), $HTK (+500%), and $LATE (+200%) emerged from the speech,… photo.twitter.com/USYbUIsGGY
— iCrypto | On-chain sentiment and analysis (@iCryptoAI) July 15, 2024
More Whale Wallets See Notable Increase
Data from Spotonchain revealed that Wallet 0x4ab, likely associated with GC Gigantic Rebirth, deposited 676,465 $TRUMP (worth $5 million) into the BTSE Exchange. Following the deposit, the wallet closed its first $TRUMP trade for an estimated profit of $7.67 million, representing a gain of 1,447%. This was achieved by spending 540,700 USDT to purchase 1.079 million $TRUMP at an average price of $0.501 between November 22 and December 4, 2023, and then depositing 1.06 million $TRUMP (worth $8.2 million) into the BTSE Exchange at an average price of $7.749 over the past 8 hours.
In the last 15 hours, wallet 0x4Ab (probably #GCR @GiantRenaissance) deposited 1.06M $TRUMP ($8.2 million) to #BTSEgenerating a profit of US$7.67 million!
Note that another wallet 0x321 (marked: “GCR: Address 1”) still contains 936,279 $TRUMP ($7.05 million) with an unrealized profit of $6.35 million (+902%)!
Follow… photo.twitter.com/RqKWoHCIYA
— Spot On Chain (@spotonchain) July 15, 2024
Additionally, wallet 0x321, marked as “GCR: Address 1,” still holds 936,279 $TRUMP (worth $7.05 million) and has an unrealized profit of $6.35 million, a gain of 902%.
🇺🇸 The assassination attempt on Donald Trump occurred approximately 8 hours ago, and cryptocurrency markets reacted immediately.
📈BTC recovered to $60.3K, a 10-day high
📈TRUMP rose +63% with the release of the newsConsidering the gravity of any murder… photo.twitter.com/hUHKIhF5Zh
— Santiment (@santimentfeed) July 14, 2024
Disclosure: This is not trading or investment advice. Always do your research before purchasing any cryptocurrency or investing in any service.
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