As ‘Trump Trades’ Return to Vogue Following Weekend Attack, Bitcoin Retakes $62K.
One observer stated that the weekend’s assault on Trump, a pro-crypto presidential candidate, ought to spark interest in cryptocurrency bids.
- BTC surpasses $62,000 as the likelihood of a Trump victory increases.
- The Mexican peso and yuan are trading poorly, and Treasury futures indicate rising yields.
Following the former president’s attempted assassination on Saturday, assets associated with U.S. Republican contender Donald Trump’s likelihood of winning the elections on November 4 are seeing fresh volatility.
After the weekend onslaught, Bitcoin (BTC) has increased 7% to $62,500, increasing the pro-crypto candidate’s odds of winning the elections to 70% on Polymarket.
According to Coin Desk statistics, the top cryptocurrency by market value has overtaken the 200-day simple moving average (SMA), which is a trendline that describes the decline from the highs in early June and is a widely-tracked indicator of long-term trends.
This is encouraging news for momentum traders. The value of Prolife tokens with Trump themes, which symbolize the nexus between politics and finance, has increased as well.
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