Following the failed attack on Donald Trump, Bitcoin and the broader cryptocurrency market witnessed a strong surge on Sunday.
Last Saturday, July 13, former US President Donald Trump had a narrow escape from an assassination attempt during his campaign in Pennsylvania. A day later, David Bailey, the event organizer of the Bitcoin 2024 conference announced that Trump would still be attending the event later this month in Nashville, Tennessee.
In his message on social media platform X on Sunday, July 14, Bailey stated that he had just spoken to Trump’s team and the former President “was in good spirits”. Bailey further added that Trump was “excited to see you all in Nashville and deliver a speech that is heard around the world”.
The former president committed to speaking at the conference earlier in the week, before the assassination attempt. The event runs from July 25 to July 27, with Trump scheduled to speak on July 27.
Following the failed attack on Donald Trump, Bitcoin and the broader cryptocurrency market witnessed a strong surge on Sunday. Trump surviving the deadly attack has boosted the former President’s re-election chances in the 2024 US Presidential elections. As a result, the crypto market players expressed strong enthusiasm for taking the market higher.
Interestingly, the rally has continued further moving into Monday. Bitcoin (BTC) price is 4.5% up at $62,987 levels thereby surpassing the crucial resistance of $60,000.
Bitcoin reclaimed the $62k support level after a strong weekend. While resistance is strong above, enough bullish momentum can prevent selling pressure.
Can Bitcoin break the downtrend? pic.twitter.com/7WDP761uCJ
— IntoTheBlock (@intotheblock) July 15, 2024
Altcoins, Meme Coins Join the Party
Apart from Bitcoin other altcoins and meme coins have also registered strong rallies. The Ethereum price has also rallied by 5% moving all the way to $3,400 as the investors prepare for the launch of a spot Ethereum ETF in a week or two from here onwards. The US SEC has maintained a long silence after the Ethereum ETF issuers submitted the S-1 forms last Monday.
Other altcoins like Solana, XRP, Cardano, and Dogecoin, have also rallied by over 10% in the last two days following the news of the Trump attack.
Besides, there’s also a renewed euphoria in the meme coin market which is up anywhere between 5-10% as of press time. The Donald Trump-themed meme coin MAGA rallied by a massive 60% on Sunday, shooting up all the way to $10. Despite correcting 25% from yesterday’s top, MAGA is still seeing 42% gains on the weekly chart.
next