Bitcoin Surges Past $62,000 Amid Trump-Related Market Sentiment

Bitcoin's price has recently soared above $62,000, largely influenced by shifting market sentiment following an assassination attempt on former US President Donald Trump.

This incident has seemingly bolstered Trump's chances of winning the 2024 election, with his odds now at 70% according to various analyses. Trump's pro-crypto stance, emphasizing the protection of individuals' rights to own crypto assets, has further energized the crypto community, driving Bitcoin's price up from a recent low of $53,000.

Analysts predict Bitcoin may continue its upward trend towards $70,000, supported by long-term holders who are accumulating the asset. Data from CoinSwitch Markets Desk shows that the supply of Bitcoin held by long-term investors is at an all-time high, indicating strong confidence in its long-term potential.