BTC tops $62,000 as Trump shooting boosts odds of election victory.
Yuan and Mexican peso trade weak, while Treasury futures point to higher yields.
Assets linked to U.S. Republican candidate Donald Trump's probability of winning the Nov. 4 elections are seeing renewed volatility following an attempted assassination of the former president on Saturday.
Bitcoin (BTC) has rallied 7% to $62,500 since the weekend attack, which has boosted the pro-crypto candidate's probability of winning the elections to 70% on Polymarket.
The leading cryptocurrency by market value has surpassed the crucial 200-day simple moving average (SMA), a widely-tracked gauge of long-term trends and a trendline characterizing the downtrend from early June highs in a positive sign for momentum traders, CoinDesk data show. Trump-themed Polifi tokens, marking the intersection of politics and finance, have surged as well.
In recent months, Trump has reversed course and embraced crypto to outflank his rival, Joe Biden, and win over the supposedly single-issue crypto community, which is seeking a friendlier regulatory environment for the industry. As such, bitcoin and the broader crypto market have become bets on Trump's victory. The former president is committed to speaking at the Bitcoin 2024 conference in Nashville, Tennessee, on July 27.
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