Joe Biden Withdraws from the US Presidential Race, Market Redefines Dynamics and Bitcoin Reacts

The race for the presidency of the United States has just experienced a major twist with the announcement of Joe Biden's withdrawal. This unexpected decision could redefine electoral dynamics and have significant repercussions on the crypto market, especially on bitcoin.

The announcement of Joe Biden’s withdrawal from the Democratic primaries had an immediate impact on the crypto market, with the price of bitcoin dropping by nearly $2,000 within minutes. However, the crypto asset quickly recovered most of its losses, stabilizing around $67,000 before surpassing $68,000. Currently, bitcoin is trading at around $67,800.

With Biden now out of the race, Kamala Harris has become the main Democratic candidate, supported by Hillary Clinton. However, Harris has yet to express a clear public stance on cryptos, leaving investors in uncertainty.

Bookmakers now give Harris more favorable odds compared to Trump. His chances have dropped from 70% to 64% after Biden’s announcement. Harris even leads Trump by a point in bets on the popular vote winner. However, the real impact on the crypto industry will depend on the position Harris adopts on this issue if she is elected.

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