Markets
Bitcoin Trades at $64K as Biden Withdrawal Likelihood Increases
Bitcoin traded on both sides of $64,000 after a $65,000 drop on Thursday. The rising likelihood of Joe Biden dropping out of the US presidential race has taken some of the wind out of BTC’s sails after it briefly regained $66,000 earlier this week. With a second term in the White House for Donald Trump seen as the far more beneficial outcome for the cryptocurrency industry, BTC has been buoyed by Biden’s poor performance so far in the campaign, along with the attempted assassination of the Republican nominee. The possibility of a Biden withdrawal could mean that crypto trader sentiment has been tempered somewhat. BTC is down about 0.9% over the past 24 hours, while the CoinDesk 20 Index (CD20), a gauge of the broader cryptocurrency market, fell 1.9%.