The attempted assassination of Donald Trump yesterday caused an immediate reaction in the crypto markets. Bitcoin (BTC) rebounded to as high as $60.3K, marking a 10-day high.
Meanwhile, the $TRUMP token surged by 63% as the news broke.
Given the gravity of any assassination attempt on a public or non-public figure, combined with the cryptocurrency community’s diverse political views, it is clear that a bullish bias has emerged around the 2024 US presidential candidate. As the fall elections approach, 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 market responses.
Regardless of political stance, it’s important to note that such market reactions will likely continue with any notable US political news throughout the remainder of 2024, especially in the speculative-driven cryptocurrency sector.
🇺🇸 The attempted assassination of Donald Trump occurred approximately 8 hours ago, and crypto markets had an immediate reaction.
📈BTC rebounded as high as $60.3K, a 10-day high
📈TRUMP surged +63% as the news brokeTaking into account the serious matter of any assassination… pic.twitter.com/hUHKIhF5Zh
— Santiment (@santimentfeed) July 14, 2024
Yesterday’s speech by Trump saw the $TRUMP token spike by 70% in under an hour. However, negative news caused the token to drop by 34% over the past 24 hours, according to crypto AI data.
Smart Money swap $TRUMP for $Mog? 🫣
In yesterday's speech, $TRUMP spiked 70% in under an hour, but negative news caused this meme to drop 34% in the past 24 hours.
On the other hand, some meme tokens like $FIGHT (+600%), $HTK (+500%), and $TARD (+200%) emerged from the speech,… pic.twitter.com/USYbUIsGGY
— iCrypto | Sentiment & On-chain Analysis (@iCryptoAI) July 15, 2024
More Whale Wallets Recording Notable Increase
Spotonchain data revealed that Wallet 0x4ab, likely associated with GC Gigantic Rebirth, deposited 676,465 $TRUMP (worth $5 million) to the BTSE Exchange. After the deposit, the wallet closed its first $TRUMP deal with an estimated profit of $7.67 million, representing a 1,447% gain. This was achieved by spending 540,700 USDT to buy 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) to BTSE Exchange at an average price of $7.749 in the past 8 hours.
In the past 15 hours, wallet 0x4Ab (likely #GCR @GiganticRebirth) deposited 1.06M $TRUMP ($8.2M) to #BTSE, making a $7.67M profit!
Note that another wallet 0x321 (tagged: “GCR: Address 1”) still holds 936,279 $TRUMP ($7.05M) with an unrealized profit of $6.35M (+902%)!
Follow… pic.twitter.com/RqKWoHCIYA
— Spot On Chain (@spotonchain) July 15, 2024
Additionally, Wallet 0x321, tagged “GCR: Address 1,” still holds 936,279 $TRUMP (worth $7.05 million) and has an unrealized profit of $6.35 million, a 902% gain.
🇺🇸 The attempted assassination of Donald Trump occurred approximately 8 hours ago, and crypto markets had an immediate reaction.
📈BTC rebounded as high as $60.3K, a 10-day high
📈TRUMP surged +63% as the news brokeTaking into account the serious matter of any assassination… pic.twitter.com/hUHKIhF5Zh
— Santiment (@santimentfeed) July 14, 2024
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.
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