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On Saturday, an explosive news came that former US President Trump, the popular Republican candidate for the 2024 election, was attacked by an unknown attacker at a campaign event in Pennsylvania. Then, the price of Bitcoin soared. According to Coingecko data, in less than an hour, Bitcoin jumped from $58,337 to $59,796. Although it later fell back slightly, it still remained high.

But the most aggressive increase is the Trump-related meme coins, such as TREMP, Trump Coin, and MAGA Coin. As soon as they heard the news, they rose like a rocket. TREMP was even more powerful, rising 71% in one day.

It is said that Trump was giving a speech on the stage when there was a sudden loud noise, like a gunshot or an explosion, which scared him to squat down and his face was a little bruised. However, the Secret Service quickly protected him and said that Trump was safe. There are reports that this was an assassination attempt and the gunman has been killed by the Secret Service.

Memecoins have large price fluctuations and jump at the slightest disturbance, so this wave of growth is not surprising. But why is Bitcoin also rising?

It turns out that Trump has been supporting cryptocurrencies recently and singing a different tune from President Biden. After surviving the attack this time, many crypto investors and gamblers are thinking that this is a plus for his campaign. If he really wins, the regulatory environment for cryptocurrencies may be more relaxed than when Biden was in office.

Therefore, on the cryptocurrency prediction market Polymarket, the odds of betting on Trump's victory also rose, from 60% before the attack to 71%. Although it has now fallen back to 67%, it is enough to show the market's confidence in Trump. Biden's support rate is only 15%. Polymarket also said that Trump's chances of winning hit a new high on Saturday.

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