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Bitcoin Retakes $62K after the weekend TRUMP Attack
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A recent attack on pro-crypto presidential candidate Donald Trump has led to a surge in cryptocurrency interest and prices.

Impact on Cryptocurrency Market

Bitcoin Surge: Bitcoin (BTC) jumped 7% to $62,500 following the attack, with Trump's election odds rising to 70% on Polymarket.

Market Volatility: Assets linked to Trump's potential victory are experiencing increased volatility.

Bitcoin's Momentum

Technical Indicator: Bitcoin has crossed the 200-day simple moving average (SMA), a positive signal for traders.

Polifi Tokens: Trump-themed tokens combining politics and finance have also surged.

Trump’s Crypto Strategy

Pro-Crypto Stance: Trump has shifted to support crypto, aiming to outmaneuver Joe Biden and attract the crypto community.

Upcoming Speech: Trump is scheduled to speak at the Bitcoin 2024 conference in Nashville on July 27.

Market Reactions

Expert Insight: Greg Magadini of Amberdata noted the assassination attempt has improved Trump’s election odds, boosting crypto bids.

Global Financial Impact: The Chinese yuan and Mexican peso fell against the dollar, reflecting Trump's trade and political stances.

U.S. Financial Markets

Treasury Note Futures: Declined prices hint at higher yields, with expectations of increased spending and deficits under a potential Trump presidency.

Stock Market and Dollar Index: S&P 500 futures rose 0.18%, and the dollar index was up 0.10% to 104.19.

Trump’s pro-crypto stance and recent events have injected volatility and optimism into the cryptocurrency market, with significant impacts on global and U.S. financial markets.