Bitcoin Price Surges After Trump Incident: Market Updates

Introduction

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Top Stories:

• Bitcoin Surges Past $62,500: Bitcoin’s price soared above $62,500 in the aftermath of the weekend attack on Donald Trump. The incident also appeared to enhance Trump’s chances of winning a second term as he is seen as the pro-crypto candidate compared to President Joe Biden. Since the failed assassination attempt in Butler, Pennsylvania, BTC has rallied over 7%, reaching $62,476 at the time of writing, marking a 3.95% increase in the last 24 hours. The CoinDesk 20 Index (CD20) also climbed by 3.32%.
• Trump’s Election Odds Reach Record High: Following the shooting at the Pennsylvania rally, the probability of Donald Trump winning the presidency surged to an all-time high. Traders on Polymarket observed a significant jump, with “Yes” shares on the contract predicting Trump’s victory rising to 70 cents, indicating a 70% chance of him prevailing in the upcoming election. Memes tokens inspired by Trump, such as MAGA and TREMP, experienced notable price increases, while the satirical BODEN token, referencing Biden, faced a decline.
• Denial of Bail for Tornado Cash Co-founder: Alexey Pertsev, co-founder of Tornado Cash, was refused bail by a Dutch court on Friday. Pertsev, who was convicted of money laundering in May and sentenced to 64 months in prison, was denied bail for the appeals process as the court deemed his detention did not impede his defense preparation. The case has stirred controversy within the crypto community, being considered a landmark legal proceeding.

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