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BlackRock’s iShares Spot Bitcoin ETF has exceeded its iShares Gold Trust in assets under management. The IBIT Bitcoin trust has reached $33.1 billion, with the recent US election being a catalyst for investor inflows and Bitcoin prices. JUST IN: BlackRock's #Bitcoin ETF is now larger than its Gold ETF. — Watcher.Guru (@WatcherGuru) November 8, 2024 On election night in the US, Bitcoin climbed to a new all-time high as the voting returns favored Donald Trump. The former President and new president-elect has been open about his support for Bitcoin and cryptocurrencies, calling himself the “crypto president.” As a result of the newfound hype around Bitcoin in November, interest in the asset and other cryptocurrencies has risen. While Gold (XAU/USD) has also recently seen an all-time high, Bitcoin quickly eclipsed it as one of the most popular non-fiat assets in the world. BlackRock’s ETFs display this change, as its Spot Bitcoin ETF has now surpassed its Gold...

The United States Commodity Futures Trading Commission (CFTC) had its emergency motion for a stay and immediate interim relief in its case against prediction market Kalshi thrown out. After Kalshi’s successful lawsuit against the CFTC, in preparation for its appeal, the commission filed the motion seeking a delay in Kalshi’s ability to resume offering prediction markets in elections. According to the opinion that accompanies the rejection of the motion, the CFTC “has failed at this time to demonstrate that it or the public will be irreparably injured” absent the stay or immediate relief. However, the opinion does also note that “the question on the merits is close and difficult.” In a separate aside, the opinion also raises the question of whether or not Polymarket has complied with its obligation to block access to US persons . US presidential election markets are legal. Officially. Finally. Kalshi prevails. pic.twitter.com/jvObcQDczz — ...

The leading cryptocurrency is currently at a crossroads. Indeed, Bitcoin is facing a crucial Q4, as it eyes a continued drop or a surge above the $70,000 level. The former is certainly in play and would have the asset continuing its recent fall below the $50,000 mark. That dire state would have the asset’s price a far cry from the $73,000 record price it reached in March of this year. With some promise showing in the accumulation of BTC, there is reason to believe it could return to similar levels. It would have to conquer notable obstacles it has been unable to overcome over the last six months. Source – Watcher Guru Also Read: Will Trump vs Harris Debate Affect Bitcoin’s September Price Pace? BTC to Fall Below $50,000 or Surge Above $70,000: That is the Question For the last two months, Bitcoin has been in a unique position. Moreover, it has developed a tale of two paths. First, would have the asset dropping to significant lows, while the other would have the leading crypt...