Biden Announces Withdrawal from 2024 Race, Bitcoin Surges

US President Joe Biden announced early this morning on X that he will not seek re-election, endorsing Vice President Kamala Harris as his successor. This development added uncertainty to Trump's chances of winning, causing Bitcoin to briefly fall below $66,000 before sharply rebounding to nearly $68,000 in a rare V-shaped recovery.

The shift also means that "Trump-themed" assets might face short-term corrections. Previously, the market had almost taken Trump's victory for granted, but with Harris as the new contender, Trump's odds, while still strong, face a significant challenge compared to Biden. As the initial excitement subsides, the market is now viewing the race as uncertain.

This article is from the blockcast:https://blockcast.it/2024/07/22/mica-daily-240722/

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2024/7/22