Trump’s assassination sends Bitcoin price back to $60,000, crypto market enters spring

Bitcoin and Donald Trump-themed meme coins surged on Sunday following an assassination attempt on the former US president during a rally in Butler, Pennsylvania. Trump, a recent advocate for cryptocurrencies, is set to speak at the Bitcoin conference in Nashville this month ahead of the November US elections.

Trump assassination

Trump, 78, was holding a campaign rally in Butler, Pennsylvania - a key state in the Nov. 5 election - when shots rang out, hitting his right ear and leaving his face streaked with blood. His campaign said he was doing well.

One person in the crowd was killed and two others wounded. Secret Service agents fatally shot the suspect, the agency said.

The shooter, identified as Thomas Matthew Crooks, was killed, and one spectator lost their life in the incident.

Joe Biden speaks

President Joe Biden warned Sunday of the risks of political violence in the U.S. after Saturday’s attempted assassination of former President Donald Trump, saying, “It’s time to cool it down.”

In a prime-time national address from the Oval Office, Biden said political passions can run high but “we must never descend into violence.”

The president acknowledged the passions of an election year, and that he and Republicans offer different policy visions, but implored Americans to “recommit” to resolving their differences peacefully.

“There is no place in America for this kind of violence — for any violence. Ever. Period. No exception. We can’t allow this violence to be normalized,” Biden said.

Biden spoke for six minutes in his third address to the nation since Saturday evening’s attack by a shooter that killed one rallygoer and seriously injured two more.

His warning came hours after FBI Deputy Director Paul Abbate said agents have seen increasingly violent rhetoric online since the attack at the Trump rally.

Elon Musk endorses Trump in presidential race

July 13 (Reuters) - Elon Musk, the billionaire CEO of Tesla, publicly endorsed Donald Trump for the first time in the U.S. presidential race, calling the Republican former president "tough."

Musk, the world's richest person, posted the endorsement with a video of Trump with blood on his face pumping his fist after multiple shots rang out at Trump's rally in Pennsylvania on Saturday. Trump was safe.

The posts cement Musk's shift towards right-wing politics and hand Trump a high-profile backer in his quest to return to the White House in the Nov. 5 election.

"I fully endorse President Trump and hope for his rapid recovery," Musk posted, opens new tab on his social media platform X.

"The martyr lived," he wrote, opens new tab in a later post, citing a reported debate between conservative venture capitalist Peter Thiel and LinkedIn co-founder and Democratic megadonor Reid Hoffman.

Musk later posted a photograph of Trump at the event, followed by: "Last time America had a candidate this tough was Theodore Roosevelt."

Bitcoin and Trump Meme Coins Surge

Bitcoin's price climbed from $58,335 to $61,591, marking its highest value in a week before settling at $60,026. Ethereum-based MAGA meme coin rose from $6.30 to $10.40, increasing its market cap from $290 million to $470 million in under an hour. Solana-based Tremp (TREMP) surged over 60%, while MAGA Hat (MAGA) briefly soared 20%. Conversely, BODEN, a token named after President Joe Biden, fell 23.2% to $0.03146.

Trump election odds hit record high

Trump's re-election odds hit a record high of 71% post-incident, while Biden's chances dropped to 16% following a poor debate performance. Trump's pro-crypto stance has attracted significant financial support from the crypto community, including the Winklevoss twins and Kraken co-founder Jesse Powell.

Bitcoin is about to explode

Trump's upcoming speech at the Bitcoin conference in Nashville on July 27 is expected to bolster his pro-crypto image. Standard Chartered speculates that Trump's victory could push Bitcoin's value to $150,000 due to his supportive stance on cryptocurrencies.