Bitcoin has soared to over $62,500 following a weekend incident involving Donald Trump, which has also bolstered the former president’s prospects for a second term in November. Trump, viewed as the pro-crypto candidate compared to President Joe Biden, has become a key metric for the cryptocurrency market’s sentiment.
BTC has surged by more than 7% since the failed assassination attempt in Butler, Pennsylvania, reaching $62,476 at the time of reporting—an increase of 3.95% over the past 24 hours. The broader digital asset market, as measured by the CoinDesk 20 Index (CD20), has also risen by 3.32%.
Traders on Polymarket have significantly raised the probability of Trump returning to the White House, with “Yes” shares in Polymarket’s contract on his presidency reaching 70 cents after the incident—an all-time high. This implies a 70% chance of Trump winning the election in November. Meme tokens inspired by Trump, such as MAGA and TREMP, saw substantial gains of 34% and 67% respectively over the past 24 hours, according to CoinGecko data. In contrast, BODEN, a satirical token referencing Biden, declined by about 15% to $0.0333115.
Meanwhile, Alexey Pertsev, co-founder of Tornado Cash, faced a setback as a Dutch court denied his bail request on Friday. Pertsev, convicted of money laundering in May and sentenced to 64 months in prison, has sparked significant controversy within the crypto community, with his case being regarded as pivotal for crypto-related legal precedents.
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