Bitcoin (BTC) is closing in on its average entry price for US spot BTC exchange-traded fund (ETF) investors at $79,900. The narrowing gap between Bitcoin’s market price and the ETF holders’ cost basis coincides with onchain data that shows early signs of accelerated buying from investors.Bitcoin ETF breakeven level nears key trend testBitcoin’s sustained price rally above $70,000 puts a key investor cohort back in focus. The ETF cost basis level acted as support in mid-2024, and a break above this level brings many ETF holders closer to breakeven.Spot Bitcoin ETF realized price. Source: CryptoQuantThe flow data adds further context…

Arizona Attorney General Kris Mayes filed criminal charges against Kalshi Tuesday, charging the prediction markets platform with operating an unlicensed gambling business and offering election wagering in the state, actions she said violated the state’s laws.Mayes charged KalshiEx LLC and Kalshi Trading LLC with 20 counts, alleging the platform accepted bets from Arizona on a wide range of events in violation of Arizona law, including sports and elections, like contracts betting on the outcomes of the 2028 presidential race and 2026 state gubernatorial race.“Arizona law prohibits operating an unlicensed wagering business, and separately bans betting on elections outright,” the attorney…

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