**Bitcoin Bounces Back Amid Biden's Exit from 2024 Race**

In a surprising turn of events, President Joe Biden announced his withdrawal from the 2024 presidential election on July 21. The news initially caused Bitcoin (BTC) to dip by 3%, but it quickly rebounded, climbing nearly 1.5% to hit a daily high of $68,364, according to Bitstamp data. This marks Bitcoin's highest price in over a month.

Bitfinex analysts described the initial drop as a knee-jerk reaction to market uncertainty. By Monday morning, BTC had increased by 0.9% over the previous 24 hours, nearing its all-time high of $73,666.

Vice President Kamala Harris, now the Democratic front-runner, has an unclear stance on cryptocurrency, which could mean more regulatory scrutiny. Investors are likely to adopt a "wait-and-see" approach until Harris clarifies her policies. Meanwhile, prediction markets favor former President Donald Trump as the most likely candidate to win the upcoming election.