Bitcoin rises back above $60,000 as Trump’s re-election odds hit ATH on Polymarket post-shooting

Trumps 2024 presidential election odds have increased to 71% – Source: Polymarket

confidence in Trumps potential return to the White House follows an assassination attempt during his rally in Pennsylvania yesterday. The incident reportedly injured Trumps right ear and one attendee.

At the time of reporting, the FBI had identified the gunman. Trump is in condition and scheduled to attend the Republican National Convention in Milwaukee.

Data from PredictIt, a political prediction market platform, also shows that Trumps chances of becoming president again have increased after the shooting. Images of Trump with his fist raised, a bloody ear, and an American flag in the background are trending on social media and television.

Photo from Watcher Guru on X

The recent incident has increased Trump‘s chances of winning the presidential election, which in turn could benefit the crypto markets. Standard Chartered believes that Trump’s victory could boost Bitcoins value and the crypto industry due to his crypto-friendly approach.

In recent months, the former President has repeatedly expressed his support for the crypto sector. He has pledged to make the US the sector leader and end the hostility of Bidens administration toward the industry.

Apart from Bitcoin, other Trump-inspired meme coins saw gains briefly after the shooting, as reported by Crypto Briefing. The Solana meme coin TRUMP (MAGA) surged 42% to $9.7. It is currently trading at around $7.8, CoinGeckos data shows.

In the last 24 hours, Doland Tremp (TREMP), another Solana-based meme coin, saw a 30% gain while MAGA Hat (MAGA), a Trump-themed coin on Ethereum, was also up almost 26%.