The &#34;Trump Trade&#34; is on fire.After the attack on Trump over the weekend, a series of Trump-related assets such as US Treasury yields, Bitcoin, and US prison stocks surged, thanks to his survival from the assassination attempt, leading to a sharp increase in support for Trump among the American people.Among them, Bitcoin rose for two consecutive days, gaining 5.7% on Monday, reaching a two-week high of $63,768 at one point.<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/df170977-8aaf-45f2-976c-c876aff15466.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/df170977-8aaf-45f2-976c-c876aff15466.png"/>Why did Bitcoin rise as well?Martin Leinweber, Director of MarketVector Digital Asset Research and Strategy, pointed out that the rise in Trump's election support has favored risk assets like Bitcoin, which is also known as the &#34;Trump Trade&#34; among traders.Moreover, Trump's supportive stance on cryptocurrencies is a key factor driving Bitcoin's recent surge. Especially as the Republican Party released the &#34;Republican Agenda to Make America Great Again in 2024&#34; on Monday, which stated:<blockquote>Republicans will end the Democratic Party's suppression of cryptocurrencies, defend the right to mine Bitcoin, ensure that Americans have the right to self-custody their digital assets, and trade without surveillance and control.</blockquote>This means that if Trump is elected, he will choose to embrace cryptocurrencies. This is a significant positive development for cryptocurrencies that have been under strict regulation by the Biden administration in recent years.<h2>If Trump is elected, the US attitude towards cryptocurrencies will make a 180-degree turn</h2>The current Biden administration has been very strict in regulating the cryptocurrency industry, even in a state of suppression.Over the past two years, the US Securities and Exchange Commission (SEC) has successively filed lawsuits against cryptocurrency exchanges such as FTX, Binance, and Coindesk, imposing fines exceeding $5 billion.Furthermore, the SEC openly opposes the US Congress's establishment of corresponding regulations for crypto assets, claiming that the vast majority of token issuers are unregulated and in violation of federal securities laws.With the increased probability of Trump being elected, his more crypto-friendly stance naturally makes him more popular in the crypto community.Katie Biber, Chief Legal Officer of crypto investment firm Paradigm, even stated that cryptocurrencies have entered the Republican agenda, marking a historic breakthrough.Some analysts point out that Trump's gesture towards the crypto community is driven by electoral needs. As the November US presidential election approaches, Trump may see cryptocurrencies as an important tool to attract young voters and supporters of financial technology innovation.Leinweber stated that Trump has changed his stance on cryptocurrencies, having criticized them during his previous term and now embracing the industryAccording to media reports, in June, Trump met with individuals from the cryptocurrency industry at his Mar-a-Lago estate, urging them to keep Bitcoin mining activities within the United States and claiming that this would help the U.S. dominate the energy sector. Furthermore, Trump's campaign team started accepting Bitcoin as campaign donations as early as May.Trump's shift in attitude towards cryptocurrencies has even &#34;infected&#34; some Democratic Party members. Last month, dozens of House Democrats also voted in favor of a financial innovation bill. Many believe that this move indicates that both the Republican and Democratic parties do not want voters to see their party as being against cryptocurrencies

The probability of Trump's victory has increased, favoring risky assets such as Bitcoin. Especially, the Republican Party mentioned in the latest election manifesto that if Trump takes office, he will end the crackdown on cryptocurrencies, greatly boosting confidence in the cryptocurrency market

Wallstreetcn

HGI BTC

CAM ETH

Trump Media & Tech - CW28

VanEck Bitcoin ETF

Trump Media & Tech

CoinShares Bitcoin ETF

Hashdex Bitcoin Futures ETF

Fidelity Wise Origin Bitcoin Fund - ETF

WisdomTree Bitcoin Fund

Invesco Galaxy Bitcoin ETF

Bitwise Bitcoin ETF

Franklin Bitcoin ETF

BOS HSK BTC

BOS HSK ETH

iShares Bitcoin Trust ETF

Grayscale Bitcoin Trust BTC - ETF

HGI ETH

CAM BTC

ARK 21Shares Bitcoin ETF

The market is hotly speculating on the "Trump trade", why did Bitcoin rise?