Trump Survives 2nd Attack, Bitcoin Drops 3%, MAGA -11%
The Most Important Points at a Glance
- Donald Trump survives a second assassination attempt in Florida.
- The events are impacting both prediction markets and the crypto market.
- Bitcoin sees a 3% price drop following the incident.
- The Trump-related meme coin MAGA also reacts with a 11.71% price drop.
Trump Survives Second Assassination Attempt
On September 16, 2024, Donald Trump narrowly escaped a second assassination attempt, which occurred at his golf course in Florida. The incident comes just two months after a similar event during a rally in Pennsylvania. Although Trump was unharmed, the event had far-reaching effects on various markets, including the crypto market.
Prediction Markets’ Reactions
Following the assassination attempt, data from Polymarket, a prediction market platform, showed a shift in election forecasts. Trump held 50% of the projected votes, while Vice President Kamala Harris was close behind with 49%. This change marks a reversal from the situation after the last debate, where Harris had taken the lead.
Bitcoin Price Reacts to the Incident
The crypto market also showed a clear reaction to the events. Bitcoin’s price dropped by 3% following the assassination attempt. According to current data from CoinMarketCap, the price stood at $58,592, which represents a 2.67% drop. This contrasts with a previous assassination attempt, after which Bitcoin saw a price surge and climbed above the $65,000 mark.
Analysis of Bitcoin Holders
An analysis by IntoTheBlock revealed that at the time of the incident, 81.92% of Bitcoin holders were “in the money,” meaning the value of their holdings was above their purchase price. In contrast, 13.47% of holders were “out of the money” and had incurred losses. These data suggest that Bitcoin may be heading toward a bullish phase.
Impact on the Meme Coin MAGA
In addition to Bitcoin, the Trump-related meme coin MAGA also showed a significant price reaction. The coin saw an 11.71% drop in the daily charts. This contrasts with the first assassination attempt, after which the MAGA coin surged by 40.81%.
Our Assessment
The recent events surrounding Donald Trump have once again demonstrated how strongly political developments can influence financial and crypto markets. While Bitcoin’s price dropped following the incident, the long-term trend remains unclear, especially as a large portion of holders remain in profit. The meme coin MAGA also reacted negatively, reflecting uncertainties surrounding Trump’s political future. It remains to be seen how these markets will evolve in the coming weeks.
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