Bitcoin hits $68,000 (roughly Rs. 56 lakhs) after Joe Biden drops out of presidential race

Bitcoin has been the big winner in the ongoing political drama that’s playing out in the US. After Joe Biden dropped out of the presidential race, the price of bitcoin rose on Monday as people became more optimistic about Donald Trump’s chances of winning. The world’s largest cryptocurrency is now looking at a price of around $70,000, which is a sign that the market is still growing.

After dropping out of the upcoming US Presidential race against Donald Trump over the weekend, current US President Joe Biden saw Bitcoin surge to $68,007 (Rs. 56.8 lakh) on international exchanges, marking the asset’s highest pricing in June and July so far. On Indian exchanges like BuyUCoin, Bitcoin is currently trading at $68,080 (approximately Rs. 56.9 lakh).

However, the overall crypto chart didn’t reflect the rise in BTC prices and showed signs of increased volatility, with altcoins moving in a mixed direction.

Bitcoin has bounced back to the $68,000 mark as market participants show optimism about Donald Trump’s potential election win. BTC is now looking at the $70,000 mark, which is a sign that the market is still feeling positive, according to Edul Patel, CEO of Mudrex, speaking to Gadgets360.

Ether also saw a notable increase in its price from last week, coming in on Monday. Ether is the second most valuable cryptocurrency after Bitcoin. It’s currently trading at $3,512 (approximately Rs. 2.93 lakh) on international exchanges like CoinMarketCap. Meanwhile, the price of ETH in India is currently at $3,685 (approximately Rs. 3.08 lakh).

With Ether ETFs set to start trading soon, Ether is looking good. To keep the bullish momentum going, ETH needs to clear the $3,650 mark and stay above $3,360. With lots of big events happening this week, we can expect the market to be pretty volatile, according to the CoinDCX market desk.where Bitcoin has surged following political developments in the U.S., highlights the influence that global events can have on cryptocurrency markets. As Bitcoin approaches the $70,000 mark, investors and traders are closely watching for any further movements that could indicate sustained growth or a potential correction.

Regarding Ethereum (ETH), the anticipation of Ether ETFs starting to trade soon could be contributing to the bullish sentiment around the cryptocurrency. If ETH can break through the 3,650levelandmaintainsupportabove3,360, it may see continued upward pressure.

For those interested in Bitcoin mining, the Antminer S21 Pro is one of the latest models from Bitmain, a leading manufacturer of cryptocurrency mining hardware. The S21 Pro model is designed to provide high hash rates while maintaining efficiency, making it an attractive option for miners seeking to maximize their returns.

To explore the Bitmain Antminer S21 Pro further, you can visit LeedMiner for detailed product specifications, availability, and pricing information. Buy it now！