Biden exited the 2024 presidential race.
The first sign of a crypto bull run?
Let's take a look👇
The last 24 hours were crazy:
🔸 Biden withdraw from presidential race. High changes are because of health problems.
🔸 Kamala Harris is representing Democrats on this race
🔸 BlackRock CEO Larry Fink may become the next Treasury Secretary if Trump wins
That all influenced the crypto market:
🔸 Bitcoin immediately dropped by 2.8%(to $65,800). Right now, it's $67,600 (+2.7%)
🔸 Joe Biden memecoin BODEN dropped by 56.8%
🔸 Kamala Harris memecoin KAMA is now 77.4% up
🔸 Donald Trump memecoin MAGA is unchanged in value
🔸 Solana gained 4.6% growth over the last 24h
🔸 Biden exit provoke $67M worth of long positions liquidation in 30m. On a 12-hour frame, we witnessed the liquidation of $134.5 million, ATH, since July 8th
One trader even made 8,200% return on KAMA coin. On June 26, he bought 628,200 KAMA for $960. After 3 weeks, he sold it for a profit of $77,800.
Elon Musk also reacted to the Biden withdrawal and posted a laser-eye profile picture on Twitter.
But how can all this influence the market in long term?
🔸 If Republican Party wins
Donald is known for his pro-crypto position. So he's going to build a crypto future in US
Now, he's heading to Bitcoin conference in Nashville. People expect him to declare BTC as a strategic reserve for US Government.
Right now, they hold 212,800 BTC (around $15 billion) and $600 billion in gold reserve. There are high chances the BTC holdings may be doubled, which will create a bull sentiment.
🔸 If Democracy Party wins
Democrats are more neutral towards Bitcoin, but still they will slowly build the future of crypto.
Only during this year did they accept BTC and ETF, and soon ETH will be traded
Yes, they might not make BTC as a strategic reserve, but on legal side, they will make everything for crypto in the future
Still, no matter who wins, the crypto market will react. And probably with bull run.
#BinanceHODLerBANANA #Biden_Out_BTC_Up #Bitcoin_Coneference_2024 #BinanceTurns7
