Bitcoin Skyrockets to $63,000 Amid Trump Assassination Attempt and Whale Accumulation.

Following the news of the assassination attempt on Trump, Bitcoin prices exceeded $63,000, maintained this momentum and closed the week above $60,000. Analysts at Matrixport predict that this rise will be driven more by market fundamentals rather than macroeconomic conditions. More than $1 billion in funds have recently entered spot Bitcoin ETFs, thanks to easing inflation in the U.S. and a slowing labor market. This robust market activity indicates that the investor base switching from corporate to individual is expanding and risk appetite is decreasing, thus indicating a more stable growth potential.

On-chain data further supports this optimistic outlook. Reports from CryptoQuant indicate that US-based whales are accumulating Bitcoin again after a period of selling. This accumulation phase follows the resolution of concerns about the German government's Bitcoin sales and contributes to the market recovery. Additionally, the recent surge in Bitcoin prices over the weekend hints that more funds may flow into spot Bitcoin ETFs, contributing to market stability.

Bitcoin's derivatives market is also showing strong positive signals. The futures market has been buoyant, with total open interest in Bitcoin futures rising more than 4% in the last day to $32.37 billion. Similarly, open interest in CME Bitcoin futures increased to $9.28 billion, reflecting confidence in Bitcoin's upside potential.