“Bitcoin surged to its highest level in almost two months following Donald Trump’s resolute response to an assassination attempt, sparking speculation that the pro-crypto former president’s chances of reelection have improved,” writes Bloomberg. Bitcoin rose by 5% on Monday, reaching $63,000, marking its largest daily gain since May 20.

Trump stated that he was shot in the right ear after gunfire erupted at a rally in Pennsylvania on Saturday. This incident prompted global condemnation of political violence and shook the US presidential campaign. Betting markets immediately boosted the odds of a Trump victory, who has positioned himself as a supporter of cryptocurrencies in an attempt to attract undecided voters.

The key question for global markets now is whether the “Trump trade” will gain momentum, based on the argument that his return to the White House would bring tax cuts, higher tariffs, and looser regulations. The organizers of a Bitcoin conference, scheduled to be held in Nashville, Tennessee, on July 27, confirmed that Trump still plans to speak at the event.

Trump’s campaign accepts donations in digital assets, and it was previously reported that Trump discussed crypto policy with billionaire Elon Musk. Bitcoin reached a record high of nearly $74,000 in March, driven by demand for dedicated US exchange-traded funds. The cryptocurrency then slightly declined amid moderate inflows, apparent sales of seized tokens, and fears of sales by creditors of the bankrupt Mt. Gox exchange.