Bitcoin Nears $63K in Explosive Market Rally Post-Trump Assassination Attempt

Bitcoin surged past $62,000 over the weekend, nearing $63,000 as part of a broader cryptocurrency market rally. The leading cryptocurrency is currently up nearly 6% in the last 24 hours.

The price increase began shortly after an assassination attempt on former US President and current Republican presidential candidate Donald Trump. The broader market rally also saw significant price jumps in ETH, SOL, BNB, and TON.

Many meme coins related to Donald Trump experienced massive surges after he revealed he was shot in the upper part of his ear over the weekend.

Over $100 Million in Leveraged Positions Liquidated in 24 Hours

In the last 24 hours, over 38,900 crypto traders were liquidated, resulting in $113 million in leveraged positions being wiped out. Of this, over $90 million were short positions, with Bitcoin alone contributing $47 million to the liquidations, according to Coinglass data.

The recent rally follows a period of harsh sell-offs in the crypto market. Bitcoin’s price had fallen as low as $53,000 earlier this month due to the Mt. Gox redistribution of Bitcoins and the German government selling millions in seized crypto. This rally offers respite to traders after several weeks of decline.

Major meme coins also saw significant increases in their prices over the weekend. The largest meme coin by market cap, Dogecoin, is up over 3% in the last 24 hours and is currently trading at $0.1176. Meme coins PEPE and Dofwifhat saw the most gains, both trading 6% higher.