Markets
Bitcoin Surges Past $66,000 After Donald Trump Assassination Attempt, and More: This Week’s Crypto Recap
It’s been a good week for the cryptocurrency market. Its total capitalization has increased by more than $250 billion, currently standing above $2.5 trillion, thanks to considerable gains across the board.
But what seems to have triggered this rally is an event that many are describing as one of the darkest days in American history. Indeed, it was the attempted assassination of US presidential candidate Donald Trump that fueled the market rally. The reason is quite simple. Many seem to believe that the events that have transpired over the past few days have strengthened Trump’s chances of becoming the next President of the United States.
He has recently been very positive about the cryptocurrency sector and will even be making an appearance at the Bitcoin conference in Nashville later this month. This has given investors optimism that the sector will flourish under Trump.
And they prospered…
Bitcoin price is up 14% compared to the same period last week. It is currently looking to break through the important resistance at $66,000. It is worth noting that it failed to do so earlier in the week when the bears stepped in and pushed the price towards $63,000.
However, buyers managed to recover and are now trying to reach a one-month high. The same can be said for Ethereum, which is up about 12% and trying to break the critical $3,500 level.
But not everything has gone smoothly. Today, India’s leading cryptocurrency exchange, WazirX, was hacked. The attack stole around $230 million, or nearly half of its reported reserves last month, meaning the platform’s future is entirely at risk.
Elsewhere, market participants are eagerly awaiting the launch of Ethereum spot ETFs, which is expected to take place next week on July 23.
Overall, a lot has happened this week, but it’s also true that we’re in for an exciting adventure in the coming weeks as well!
Market data
Market Cap: $2.5T | 24h Vol: $88B | BTC Dominance: 51.5%
BTC: $65,318 (+14%) | ETH: $3,441 (+10.4%) | BNB: $578 (+9%)
This week’s top cryptocurrency headlines you can’t miss
Massive volatility in cryptocurrency markets following Donald Trump shooting. There was a failure assassination attempt on US presidential candidate Donald Trump. Markets took this as a sign of his victory and reacted higher.
Unpacking the WazirX hack: What happened and how much cryptocurrency was lost. India’s leading cryptocurrency exchange – WazirX, has been hacked Today, more than $230 million has been compromised, raising the important question of whether the trading platform will be able to recover.
Vitalik Buterin urges crypto community to look beyond pro-crypto stance when it comes to political support. Ethereum founder Vitalik Buterin is call He called on the cryptocurrency community to go beyond just being pro-crypto to show political support. He emphasized values such as individual freedoms and much more.
Here’s when Polygon will migrate from MATIC token to POL token. The polygon goes to cross a mainnet upgrade on September 4th this year following the community approval of the proposal. This upgrade will mark the transition from the native MATIC token to one with a POL ticker.
Bitcoin ETFs see over $422 million in daily net inflows as BTC sees 10% weekly gains. Earlier this week, Bitcoin exchange-traded funds (ETFs) checked in a daily net flow of $422 million. Leading the pack, as almost always, was BlackRock’s IBIT ETF.
OKX to Discontinue Services in Nigeria, Here’s What Users Need to Know Popular cryptocurrency exchange OKX will be currently shutting down its services in Nigeria. Users have until August 30 to fully withdraw their assets.
Graphics
This week we have a chart analysis of Ethereum, Ripple, Binance Coin, Shiba Inu and Toncoin – Click here for the full price analysis.
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