Donald Trump’s Rally and Media Surge
The American dream and democracy were put on hold as news of the attempted assassination of Donald Trump spread over the weekend. Despite sustaining an injury to his right ear during a campaign rally in Butler County, Pennsylvania, the 45th President of the United States is still alive and recovering. The incident led to a surge in media attention and support for Trump.
Market Reaction to Trump’s Situation
Following the rally, Trump received backing from influential figures like Elon Musk and Bill Ackman. This support translated into a significant increase in the value of Trump-related assets, such as stocks in Trump Media Technology Group (TMTG) which shot up by 70% in early trading. Additionally, the prices of Trump’s digital trading cards and bets on the 2024 presidential election also saw sharp rises in value.
Cryptocurrency Markets Remain Resilient
Despite historically negative trends over weekends, the cryptocurrency markets defied expectations and rallied during this particular weekend. Bitcoin maintained its price above $60,000, showing a 4.3% increase in value in the past 24 hours. The overall market capitalization for cryptocurrencies also saw a significant boost, with Ethereum stabilizing above $3,000 and trading at $3,335.
