Bitcoin Trades at $64K as Biden Withdrawal Likelihood Increases

Bitcoin traded either side of $64,000 following a retreat from $65,000 on Thursday. The increasing likelihood of Joe Biden withdrawing from the race for U.S. president 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 considered the far more beneficial outcome for the crypto industry, BTC was buoyed by Biden’s poor performance thus far in the campaign coupled with the assassination attempt on the Republican nominee. The possibility of a Biden withdrawal may mean that crypto traders’ sentiment has been tempered slightly. BTC has dropped about 0.9% in the last 24 hours, while the CoinDesk 20 Index (CD20), a measure of the broader crypto market, fell 1.9%.