Bitcoin rises 5,3% after dramatic scenario bolsters Trump's Candidacy | Short positions liquidated for $170 million!

Everything seems to indicate that Bitcoin is having a significant recovery, reaching above $62,000 dollars. With an increase of 5.3%, it is showing how high its demand is, generating a volume of $29.4 billion dollars.

This could make a lot of sense after the dramatic news about the attempted assassination of former President Donald Trump at a campaign rally where he was present, supported by a crowd. In that precise moment, Trump was shot in the right ear, but by turning his head at the moment of the gunshot, the situation would have been different. The 20-year-old shooter was shot down, but one attendee died and two others were hit by the shots; their condition is critical.

Obviously, we do not like to discuss these topics that represent an act of extreme seriousness. However, the market responds to certain news and among them is the strong relationship of Trump with Bitcoin as a supporter in this industry. This contrasts greatly with President Biden's stance on this market.

Perhaps the most iconic image of recent times is that of a defiant Trump raising his arm victoriously with blood dripping down his face after such an attack. It seems that this situation creates a more conceptually refined idea in people about the fragility of the status quo. At the same time, it also acts as a catalyst that stimulates the purchase of Bitcoin.

Let's bear in mind that Bitcoin also has a significant influence on politics and on the way its adoption takes place. If we were to mention influential figures, it is quite likely that we would mention Donald Trump, Nayib Bukele, or perhaps Javier Milei, who directly or indirectly have a positive stance towards the cryptocurrency market.

The adoption of Bitcoin could benefit if Trump were to win the elections, as we would be talking about slightly more favorable regulations compared to what could happen with Biden, as well as bringing new ways of making investments. There is currently much broader support for Trump, so people are starting to lean towards a much clearer option for the continuation of the government.

Among those people is one under the name of Bill Ackman; a billionaire who is a hedge fund manager and a former cryptocurrency critic. He stated in a post on X that he will formally endorse Trump.

While there has been a substantial increase in the price of Bitcoin, the downside of this is that there have been liquidations of short positions that amounted to $170 million dollars. On the other hand, speaking of long liquidations, these refer to a value of $49.73 million dollars.

We are facing a marked recovery of Bitcoin. Before the Trump incident, the German government had sold off all the Bitcoin that had been seized, causing the price of the currency to decline. We had also previously mentioned the situation of Mt.Gox and the debt to creditors, who could lead to a strong supply trend expected to occur between the months of August and October of this year. This case is very significant because it involves the sale of up to $6,000 million dollars.

Bitcoin remains strong and inspiring. There is much thought being put into the DeFi sector and its potential for the future. In this context, there are $1.2 trillion dollars for this sector that hold great promise. Although Bitcoin is increasingly in demand and there are more reasons to acquire it, greater innovations are expected as well as the question that many of us ask, when will these investments shift towards altcoins in a way that achieves substantial growth?