The assassination attempt of Donald Trump, former president of the United States, was not ignored by the markets. From the strengthening dollar against Asian currencies to the cryptocurrency markets seeing a surge led by Bitcoin price.
Trump was injured in his ear by a bullet fired at him during a Pennsylvania rally on Saturday. US Secret Service said that the attacker had been shot by them.
In the aftermath of the debate, polls showed that Trump was ahead of Joe Biden. This is a sign of increased chances of Trump’s victory.
Bitcoin increases, and crypto markets are seeing higher trade
Bitcoin traded at $62,848.30 (up 4.35%) by 2:30pm IST. Etherum, which was trading at $3 349, had a 4.24% increase.
Edul Patel is the CEO of Mudrex.
Bitcoin’s value soared over the weekend to $62,000 as Donald Trump’s prospects of winning the White House grew. Watch out for $64,125. Support is at $61,500. Ethereum has also outperformed Bitcoin, with gains exceeding $3,300, in the past week. The market participants also expect the approval of Ether spot ETFs to be expected in this week. This could increase interest in Ethereum.
Trump’s pro-cryptostance has made cryptocurrency a major election issue, for the very first time.
He has also promised, among other things: “to defend the right of mining Bitcoin”, “to ensure that every American is entitled to the self-management of digital assets” and “to transact without government control and surveillance”.
The crypto market’s mood was lifted by experts who spoke about a higher chance that Trump would win after the attempted assassination.
The dollar gains a little strength as Treasuries decline, but equity markets are mixed
Treasuries fell early Monday and the dollar weakened slightly against other major currencies.
Morning trading saw the dollar index rise 0.15%, after a decline earlier in July.
The equity markets showed a mixed reaction with Hong Kong and Taipei dropping, Wellington rising, Bangkok falling, and Jakarta and Jakarta and Singapore rising.
London, Paris and Frankfurt have also been pushed back.
The yield on the benchmark 10-year Treasury bond rose by 0.03 points, to 4.21%. This was due to a slight decline in prices. Financial Times reports that contracts tracking Wall Street’s S&P 500 index and Nasdaq100 advanced by 0.3% and 0.5% before the New York opening.
The post from crypto to dollar: market reacts to Donald Trump’s assassination attempt may change as new developments unfold
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