Bitcoin rose 5.89% to $64,894 in the past 24 hours, while the wider cryptocurrency market is up 4.97% in the past day.
Bitcoin’s price continues to rebound from its dip earlier this month, now trading back above $64,000. The world’s largest cryptocurrency had been trading below $60,000 for around 10 days before it started to recover over the weekend.
Pro-crypto former U.S. President and presumptive Republican candidate Donald Trump’s survival of the assassination attempt at Saturday’s rally appeared to serve as a catalyst for bitcoin’s recovery. Bitcoin’s downturn earlier this month was primarily driven by concerns of significant selling pressure from Mt Gox and the German government’s bitcoin sales.
On Monday, Trump selected crypto-friendly Sen. J.D. Vance as his running mate for the 2024 presidential election. Trump is also set to speak at the Bitcoin 2024 conference in Nashville later this month.
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