Trump Crypto News: Assassination Attempt Shakes Markets
Trump Crypto News: Markets React to Trump Assassination Attempt
On September 15, 2024, former President Donald Trump was reported "safe" following gunshots in his vicinity while golfing at the Trump International Golf Club in West Palm Beach, Florida. Secret Service swiftly responded, securing the area. Although the exact details remain unclear, speculation suggests the shooter may have been targeting Trump. His spokesperson, Steven Cheung, confirmed Trump's safety but withheld further details. Donald Trump Jr. claimed an AK-47 rifle was recovered at the scene.
Crypto Market Impact: Ether and Bitcoin React
Cryptocurrency markets saw immediate reactions following news of the incident. Ether (ETH) dropped by 6%, falling from an intraday high of $2,425 on September 15 to $2,260 the next day.
This drop comes during a period of heightened volatility, with ETH experiencing its lowest BTC ratio since April 2021. Market observers noted that this assassination attempt, coupled with economic uncertainties, created a "fear, uncertainty, and doubt" (FUD) wave that impacted ETH and other cryptocurrencies.
Historical Precedent: Crypto Markets Reacting to Political Events
This is not the first time Trump-related events have influenced the crypto markets. In July 2024, an assassination attempt on the former president in Butler, Pennsylvania, led to a surge in Trump's prediction market odds and a corresponding 52% increase in MAGA-themed memecoins.
Bitcoin also experienced a spike, reaching $64,671 shortly after the attempt. Historically, political instability and high-profile incidents have triggered market reactions, particularly within the volatile cryptocurrency ecosystem.
Polymarket Odds and Federal Reserve Rate Cut Looming
The assassination attempt comes as the U.S. faces critical decisions, including a potential Federal Reserve rate cut announcement on September 18, which is expected to impact crypto prices further.
On prediction markets like Polymarket, Trump's lead narrowed following a debate with Vice President Kamala Harris, showing that political events continue to shape market sentiments. As the Federal Reserve’s decision approaches, and with Trump’s safety confirmed, crypto traders remain cautious in the volatile landscape.
