Bitcoin’s BTC Price Swings After Trump’s Assassination Attempt
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The assassination attempts on former President Donald Trump have caused significant fluctuations in Bitcoin’s price, highlighting the cryptocurrency market’s sensitivity to global political events.
Despite the alarming incidents, Trump’s safety has been confirmed, but the market reacted with a brief slump and subsequent recovery.
The assassination attempts on former President Donald Trump have led to significant fluctuations in Bitcoin’s price, highlighting the cryptocurrency market’s sensitivity to global political events. These incidents underscore the volatile nature of the market, heavily influenced by investor speculation and external political factors.
The Incident
According to Trump spokesperson Steven Cheung, on September 15, former President Donald Trump survived a second assassination attempt while playing golf at his West Palm Beach course. Secret Service agents noticed a man armed with an AK-47 rifle hiding near the property and opened fire, causing the suspect to flee. This was revealed through a tweet by Donald Trump Jr., stating that shots were fired at Trump Golf Course in West Palm Beach, Florida. An AK-47 was discovered in the bushes, per local law enforcement.
Again folks!
SHOTS FIRED at Trump Golf Course in West Palm Beach, Florida.
An AK-47 was discovered in the bushes, per local law enforcement. The Trump campaign has released a statement confirming former President Trump is safe.
A suspect has reportedly been apprehended. pic.twitter.com/FwRfrO3v6y
— Donald Trump Jr. (@DonaldJTrumpJr) September 15, 2024
The Trump campaign confirmed that the former President is safe. A suspect has reportedly been apprehended. Identified as 58-year-old Ryan Wesley Routh, the suspect was later arrested after a witness captured his vehicle’s license plate. Despite the alarming incident, Trump was unharmed, but it has raised concerns both in political and financial spheres.
Assassination Attempt and Market Impact
Earlier reports revealed an increase in whale activity in altcoins while Bitcoin slumped. The market reacted strongly due to Trump’s advocacy for making the U.S. a hub for cryptocurrency, which had initially generated optimism among crypto investors. Trump’s safety has been confirmed by authorities, and political leaders, including President Joe Biden, condemned the violence.
This was not the first attempt on Trump’s life. A previous incident occurred on July 13 at a campaign rally in Pennsylvania, which led to a surge in Trump-themed cryptocurrency and a brief rally in Bitcoin prices. However, unlike the first assassination attempt, which led to a Bitcoin surge of over 4%, reaching $63,000, the second attempt saw Bitcoin slump by 2.50% in just a day, despite a 6.91% increase in the previous week.
Market Repercussions
The price drop resulted in $116.52 million in liquidations, primarily affecting long trades. Currently, Bitcoin has surged by an unspecified percentage in the last 24 hours, reaching a price of $50,100. This incident has once again highlighted the cryptocurrency market’s extreme volatility and its susceptibility to political turbulence.
While the recent assassination attempt on former President Trump has caused a temporary slump in Bitcoin’s price, the market remains highly reactive to political events. Investors should remain vigilant and consider the broader political landscape when making investment decisions in the cryptocurrency market.
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