Bitcoin fell to $58,144 following a second assassination attempt on former President Trump.
Ethereum and the broader crypto market experienced a sharp decline amid rising volatility.
Traders await the upcoming FOMC meeting, with uncertainty around a potential rate cut fueling market tension.
Earlier today, Bitcoin fell to a daily low of $58,144 after hitting a monthly high of $60,656 on Saturday. This retracement in Bitcoinâs price also affected the altcoin market, with Ethereum, its closest competitor, dropping by over 4.5%.
Market analysts have connected the recent crypto market downturn to several factors, including the second reported assassination attempt on former U.S. President Donald Trump.
Trump Assassination Attempt and Crypto Market Jitters
On Sunday, Trump faced another assassination attempt at his West Palm Beach golf resort. The incident occurred while Trump was playing on the course with a friend. Secret Service agents reportedly fired at the suspect, who was later apprehended after fleeing in a black Nissan.
Given Trumpâs outspoken pro-Bitcoin stance, some speculate the incident may have had a negative impact on the crypto market.
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