Bitcoin (BTC) experienced a notable surge on Saturday following reports of an incident at a campaign rally attended by former U.S. President Donald Trump, a prominent candidate for the 2024 election. The cryptocurrency’s price surged from $58,300 to a peak of $59,800 within an hour, reaching its highest level in a week. Currently, BTC is trading at $62,500, marking a 4.7% increase over the past 24 hours.
However, the spike in Bitcoin’s value is overshadowed by the dramatic price hikes seen in meme coins inspired by Trump. Notably, TREMP recorded the largest gains, skyrocketing by as much as 111% following the rally incident.
The incident occurred during Trump’s speech at a Pennsylvania rally, where reports of loud noises akin to gunshots or explosions prompted security responses. Trump sought cover briefly and was attended to by Secret Service agents, sustaining minor injuries before resuming his address. The Secret Service confirmed Trump’s safety and classified the incident as an attempted assassination, resulting in the reported death of the suspected assailant by Secret Service agents.
Trump’s recent public endorsement of cryptocurrencies, in contrast to current President Joe Biden’s regulatory stance, likely contributed to the market’s reaction. Some investors speculate that surviving the alleged assassination attempt could bolster Trump’s electoral prospects, potentially influencing future crypto regulations if he wins the presidency.
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