15 July Crypto Market: A Comprehensive Overview
On July 15, the cryptocurrency market was volatile. While Bitcoin struggled to recover after a massive sell-off, the assassination attempt on Donald Trump caused uncertainty in the markets. On the same day, Tornado Cash developer Alexey Pertsev was denied bail, causing concern in the DeFi community. These events created a complex picture in the crypto market and prompted investors to be cautious.
Bitcoin is Up 7% After Trump Assassination Attempt
Following the weekend attack on Donald Trump, Bitcoin surged to over $62,500, which appears to have improved the former president’s chances of earning a second term in November. With his election prospects becoming a barometer for the bitcoin market, Trump solidified his position as a pro-crypto candidate when compared to President Joe Biden. Since the botched assassination attempt in Butler, Pennsylvania, Bitcoin has increased by more than 7%.
Trump’s Election Chances Rise to 70% on Polymarket
Following the assassination at the Pennsylvania rally, the likelihood of Donald Trump retaking the White House surged to an all-time high on Saturday, according to traders on Polymarket. Following the incident, “Yes” shares in Polymarket’s survey on whether Trump will win the presidency increased by 10 cents to 70 cents, indicating that the market now believes there is a 70% probability he will win in November. After the shooting, meme coins with Trump’s name also saw a spike.
Dutch Court Rejects Alexey Pertsev’s Bail Request
On Friday, a Dutch court denied bail to Tornado Cash’s developer and co-founder, Alexey Pertsev. The Russian’s attorneys were requesting bail so that Pertsev could get ready for his appeals process, but the court rejected their request, ruling, according to the report, that continuing his detention does not obstruct his possibility to prepare his defense, according to Pertsev’s attorney, Keith Cheng. Many in community were outraged by this decision, which sent shockwaves.
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