In an intriguing turn of events, the cryptocurrency market has witnessed optimistic responses following recent reports of an assassination attempt on the United States former President and Republican Presidential candidate Donald Trump. As information regarding the attempt surfaced, the market and community saw positive reactions, including digital assets like Bitcoin and Trump-inspired coin TRUMP.
Crypto Market Saw Immediate Reaction After Reports Of The Incident
According to top market intelligence platform, Santiment, after the assassination attempt of former US president Donald Trump on Saturday, the crypto market experienced a positive response almost instantly.
During a presidential campaign in Butler, Pennsylvania, on Saturday evening, Trump was hurried offstage after he was shot while giving a speech. The former president was indeed lucky as the bullet grazed his upper right ear, allowing the Secret Service to intervene and shield Trump off the stage. However, the Secret Service has confirmed that Trump is safe and feeling better, as no further injuries were sustained.
Given the magnitude of any attempt on the life of a public or non-public figure and the distinct political view in the crypto community, Santiment noted that a bullish bias appears to have developed around the presumptive 2024 US GOP presidential nominee.
This bullish bias underscored by Santiment is because of Trump’s sudden acceptance of digital assets, which has caused quite a frenzy within the community in recent weeks, as the majority of enthusiasts have responded positively to pro-Trump news. “It goes without saying that surviving an assassination attempt is perceived as pro-Trump news. Therefore, bullish responses have occurred as a result,” the platform added.
Following the news, Santiment reported that Bitcoin, the flagship digital asset, witnessed a rebound to the $60,000 level for the first time in more than 10 days, a few hours after the report. Meanwhile, the TRUMP coin rallied by over 63% less than an hour after the drastic incident went live.
Thus Santiment has highlighted that for the duration of 2024, at least, these kinds of market reactions will persist in response to significant US political news. This is particularly evidenced in a sector that is always driven by speculation, such as cryptocurrencies.
Responses From Major Figures in The Industry
The shooting attempt on Donald Trump‘s life on the Saturday rally campaign has prompted several positive responses from major figures in the crypto space on social media.
Top figures such as crypto advocate and billionaire Elon Musk have expressed support for the former president’s recent pro-crypto efforts. “I fully endorse President Trump and hope for his rapid recovery,” Musk stated while sharing a video of the incident.
Tron founder, Justin Sun was also seen expressing his support for Trump. According to Sun, he believes Trump is the better choice for the crypto industry and can ensure fairer treatment, prompting his endorsement of the former president as the election draws closer. Sun’s post lasted for a short while as the founder has taken down the post, triggering speculations that he might have had a change of heart towards Trump.
Featured image from Shutterstock, chart from Tradingview.com
