People will not stop to amaze me, Biden is still the US president and that will not change till 2024, not to mention the fact that he nominated someone with the same view. Why would the market react so much to that? People always like to point fingers at happening and just find whatever excuses that come to their heads for Bitcoins' woes and appreciation.

In my understanding of what is happening now, the trend of the market was already bullish before Biden declared his withdrawal from the presidential race. This will not magically stop the market trend, and more reason why this claim doesn't hold water is that the market didn't react strangely after the declaration till now. Besides, Biden's administration is not anti-crypto as widely spread, they are only trying to regulate it.