The price of Bitcoin rose above $63,000 following an assassination attempt on former U.S. President Donald Trump at a campaign rally.

Bitcoin increased nearly 10%, climbing from below $58,000 on Friday to over $63,000 by Monday morning. This sharp increase occurred after a gunman opened fire at a Trump rally in Pennsylvania on Saturday.

Although Trump sustained only minor injuries, analysts linked the rising Bitcoin price to increased prospects for a Trump victory in the upcoming November election. 

Trump has expressed support for Bitcoin and has promised to reduce regulations, aligning with the interests of many Bitcoin supporters.

Additionally, Trump's team has confirmed his attendance at the Bitcoin 2024 conference in Nashville in two weeks.

Trading volumes on exchanges increased significantly as Bitcoin surpassed its 200-day moving average. 

Some analysts view maintaining this technical level as a positive indicator after weeks of downward pressure.

The recent gains build on Bitcoin's recovery from lows around $53,000 earlier this month, influenced by sell-offs related to Mt. Gox payouts and actions by the German government. 

Traders are hopeful that this rebound marks a stable recovery.

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