What’s the deal with the election in the United States?

I’m seeing allot of things that honestly confuse me. I’m not from the US of A myself, but my main language is English, so I consume mostly American media, and it just feels like a circus? I’ve been hearing about this really old two party system that seems like it’s been there forever, but apparently that’s a new thing? I’ve also heard that there’s actually more parties, but the two just get all the light shone on them. I’ve also learned that Trump and Biden are the only two that matter this time around? Like idk if I’m not paying close enough attention, but I just feel confused.