Bitcoin soars to new all-time high on election night

As the votes were tallied overnight, optimism among the crypto crowd drove bitcoin to cross a new all-time high of over $75,000 around 1 a.m. ET, as traders priced in a Trump win.

Additionally, the defeat of Senator Sherrod Brown, the chair of the Senate Banking Committee and noted critic of crypto, likely also contributed to the rally. Pro-crypto PAC Fairshake spent $40 million to oust Brown and support Republican Bernie Moreno, a longtime crypto supporter.

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Yaël Bizouati-Kennedy

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Legendary short seller James Chanos on the problem with Strategy’s business model

The noise has grown louder about Strategy being in trouble, but most experts think Strategy can weather the current bitcoin downturn, though one critic predicts this is “the beginning of the end.”

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Ethereum spot ETFs post highest monthly outflow of $1.4 billion in November, breaking seven-month streak

Meanwhile, ethereum developers are preparing for the activation of Fusaka, the next network upgrade.

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Bitcoin off to a “violent” December

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Bitcoin Surges To New Record Highs On Trump Victory

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What will happen if bitcoin and ethereum hit key liquidation levels

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BlackRock’s IBIT on track for its worst month of net outflows, as investors yank $2.3 billion from the bitcoin ETF in November

BlackRock’s iShares Bitcoin Trust ETF, the world’s largest bitcoin fund, is heading for its worst month of outflows since it launched in January 2024.

Investors have pulled over $2.3 billion (net) throughout November so far. The jitters come as bitcoin grapples with its worst downturn since 2022, when the entire crypto world shook following the fall of Sam Bankman-Fried’s FTX — bitcoin has dropped more than 40% from its October high as of Monday’s close.

With their soaring popularity redefining and legitimizing cryptocurrencies at an institutional level, spot bitcoin ETFs have become a key barometer of wider investor sentiment surrounding the digital currency — as well as risk assets more broadly.

Notably, spot bitcoin ETFs like BlackRock’s iShares Bitcoin Trust tend to see their inflows accelerate with rising prices, and amplify falling prices when outflows become dominant. Citi Research, cited by Bloomberg, found that this feedback loop sees a ~3.4% price drop for every $1 billion pulled out from bitcoin ETFs.

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