Bitcoin Skyrockets To $62,800 Following Former US President Donald Trump Rally Shooting

In a shocking turn of event that happened at a campaign rally for former U.S. President Donald Trump in western Pennsylvania on Sunday, Donald Trump's odds of retaking the White House surged, post the assassination attempt, according to reports.

The former U.S. President Donald Trump during the rally at Pennsylvania was shot in the ear by a gunman, identified as 20-year-old Thomas Matthew Crooks.

The former US president was wounded on his right ear but was able to post on his Truth Social site that he had been "shot with a bullet that pierced the upper part of my right ear."

Impact on Trump's Political Prospects

Despite the chaos and tragedy, the incident has had an immediate impact on Trump's political standing.

According to reports, on PredictIt, a popular betting platform, Trump's odds of retaking the White House surged from about 60 per cent to 66 per cent following the shooting.

Bitcoin's Reaction to Trump's Increased Odds

Early Monday, Bitcoin's price jumped to around USD 62,800, a increase from below USD 59,000 prior to the assassination attempt.

The ripple effects of this price surge were felt across the broader cryptocurrency market. Coinbase (COIN), a leading crypto exchange, saw its stock rally 5.5 per cent early Monday, pushing it back above its 50-day moving average.

Bitcoin miners also experienced significant gains such as-

Marathon Digital (MARA) - Up 4.6 per cent

CleanSpark (CLSK) - Bolted 6.5 per cent

Hut 8 (HUT) - Rallied 8.5 per cent

Core Scientific (CORZ) - Swung 6 per cent higher

Iris Energy (IREN) - Jumped 5 per cent early Monday