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The recent assassination attempt on former US President Donald Trump has had a surprising impact on the cryptocurrency market, particularly Bitcoin. Following the incident, Bitcoin’s price surged by 4%, reaching $60,300, its highest level in the past ten days. This sudden increase reversed a recent downward trend, surprising many in the crypto community.

Analysts from blockchain intelligence platform Santiment attributed this price surge to a bullish sentiment surrounding Trump, who has recently expressed favorable views towards the crypto industry. The market perceived the assassination attempt as pro-Trump news, which, combined with his vocal support for Bitcoin, fueled a positive reaction among investors.

Will Clemente, co-founder of Reflexivity Research, noted that the market might start to price in a potential Trump victory in the upcoming presidential election, further boosting Bitcoin’s value. Additionally, data from Polymarkets indicated that the assassination attempt had improved Trump’s chances of winning the election, with crypto bettors giving him a 70% chance of victory.

Trump’s increasing popularity within the crypto community, bolstered by endorsements from prominent figures like Elon Musk and Cathie Wood, likely contributed to the market’s optimistic response. Bitcoin’s price prediction and technical analysis following Trump’s assassination attempt suggest a potential bullish trend, with key resistance levels being broken and signs of accumulation by investors.

Overall, the unique and unpredictable factors that can influence Bitcoin’s valuation, such as major news events like the recent assassination attempt on Trump, highlight the volatile nature of the cryptocurrency market and the importance of staying informed on current events.