Bitcoin and Crypto Surge as Traders React to Latest Donald Trump News

Bitcoin and Crypto Surge as Traders React to Latest Trump News

Bitcoin and the broader crypto market are on the rise as traders react to the latest developments surrounding former US President Donald Trump.

Following the dismissal of Trump’s criminal case related to classified documents, the flagship cryptocurrency Bitcoin jumped back above $63,000. Altcoins also saw similar gains as the overall market sentiment turned bullish.

Trump received a major boost with the dismissal of the case, which was ruled to have violated the U.S. constitution due to the appointment of a special counsel. This decision by U.S. District Judge Aileen Cannon came after months of legal battles and rejections of Trump’s motions.

Furthermore, Trump narrowly survived an assassination attempt on July 13, adding to the positive momentum surrounding him. The recent events have led to a surge in Trump-related meme coins such as MAGA, STRUMP, and TREMP, which have reversed their previous declines and are now in the green.

Judge Dismisses Trump Case

In a significant legal development, the criminal case against Trump regarding classified documents was dismissed by Judge Cannon. The ruling stated that the appointment of a special prosecutor violated the U.S. Constitution, ultimately leading to the dismissal of the case.

This decision comes after previous rejections of Trump’s attempts to have the case thrown out, highlighting the complexity and contentious nature of the legal proceedings.

Analysts Optimistic about Trump’s Impact on Crypto

Analysts and experts in the crypto space have expressed optimism about the potential impact of a Trump win on the market. Recent events, including the dismissal of the criminal case and the Supreme Court’s ruling granting Trump immunity from prosecution, have fueled bullish sentiment.

Many believe that a Trump victory could lead to further gains in the crypto market, with Bitcoin spot ETFs seeing consecutive net inflows amid the positive news. Analysts at Coinbase have even suggested that a Trump win could push Bitcoin and crypto higher in the fourth quarter of this year and beyond.

As traders continue to react to the latest Trump news, the crypto market remains volatile but optimistic about the potential for further growth and gains.