Bitcoin and the broader crypto market surged as traders reacted to the latest news involving former US President Donald Trump. On July 15, U.S. District Judge Aileen Cannon dismissed Trump’s classified documents case, citing constitutional violations in the appointment of the special counsel.
This ruling comes after Trump narrowly survived an assassination attempt on July 13 and received immunity from prosecution for acts committed during his presidency. The flagship cryptocurrency jumped back above $63,000, and altcoins saw similar gains.
Trump-related meme coins like MAGA, STRUMP, and TREMP also reversed their recent declines. Analysts indicate that a Trump win could be bullish for crypto, with potential for further gains in Q4 and 2025.
Bitcoin spot ETFs have seen consecutive net inflows amidst these developments. The strategic importance of these events lies in their potential to significantly boost the crypto market ahead of the US election.
