Bitcoin (BTC) Costs Dip Under $66K as US President Joe Biden Withdraws From 2024 Race

Bitcoin costs fell as little as $65,800 on Binance after information broke that US President Joe Biden wouldn't be operating for re-election in 2024.

US President Joe Biden has introduced that he’ll not be operating for re-election within the 2024 presidential election.

In an announcement launched on July 21, Biden said that he’s withdrawing from the 2024 presidential race. The President didn’t specify his causes for ending his 2024 bid.

Biden’s transfer comes after rising strain from throughout the Democratic Occasion and considerations concerning his age and well being for one more time period, notably following a difficult debate efficiency towards Donald Trump.

Within the assertion, the President expressed that it was within the greatest curiosity of each the celebration and the nation for him to step apart and concentrate on his present presidential duties.

Following his announcement that he wouldn’t run for re-election, President Joe Biden endorsed Vice President Kamala Harris as his successor.

In response to information from Polymarket, the possibilities of Kamala Harris successful the election attain 26% whereas Donald Trump’s 2024 presidential election odds stand at 66%.

With Biden’s withdrawal, Trump is positioned to capitalize on this improvement. The Republican nominee has persistently promoted a pro-crypto agenda, which can resonate with a big phase of the voters taken with crypto and blockchain know-how.

In the meantime, there isn’t any information concerning Harris’ stance on crypto, as she has by no means mentioned it.

Bitcoin’s value has been unstable within the wake of Biden’s withdrawal. After hitting a excessive of $67,500 on Sunday, the crypto plunged to beneath $66,000, CoinGecko’s information exhibits. Nonetheless, it has managed to regain some floor, at present buying and selling at $67,300.

Along with Bitcoin, PolitiFi cash additionally skilled important volatility. The Solana-based meme coin Jeo Boden (BODEN) dipped 60% in worth inside minutes of the announcement, in response to information from CoinGecko.

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