Bitcoin’s 2024 Finale: A Year to Remember in Crypto

Bitcoin Closes 2024 with a Bang

The crypto market is ending 2024 with intense volatility and groundbreaking milestones. This year marked Bitcoin crossing the historic $100,000 threshold, fueled by major events like the US approval of Bitcoin and Ethereum ETFs.

Weekly Snapshot (as of Dec 30, 2024):

BTC: $93,745 ⏬ 1.44%

ETH: $3,415 ⏫ 3.36%

DOGE: $0.3204 ⏫ 2.52%

SHIB: $0.000021 ⏫ 0.14%

Bitcoin saw a turbulent week, dipping to $93,000 before stabilizing slightly. Despite a 1.7% broader market decline, BTC dropped by 1.72% in the last 24 hours. However, positive perpetual futures funding rates indicate long-term market optimism, even as regional trends like South Korea’s narrowing ‘Kimchi premium’ suggest tempered enthusiasm.

Key Highlights from 2024:

1. Institutional Adoption: Spot BTC ETFs approved in January brought in $36 billion in inflows, accumulating over 1 million BTC.

2. Ethereum Resilience: Long-term ETH holders increased from 59% to 75%, signaling strong investor confidence.

3. Miner Growth: Bitcoin miners exceeded $1.33 billion in December revenue, showing resilience despite market dips.

As we look toward 2025, the market’s future will hinge on regulatory changes, like the US Treasury’s IRS reporting rules, and evolving investor sentiment.

What’s Next?

Analysts predict a potential ETH rally in Q1 2025, though Bitcoin’s trajectory remains uncertain.

The Crypto Fear & Greed Index falling to October lows signals caution, but the promise of new highs keeps optimism alive.

Let’s step into the new year with a balanced outlook, embracing crypto’s ever-evolving landscape. Here’s to another year of innovation and opportunity.

Disclaimer: This content is for informational purposes only and should not be construed as financial or investment advice. Always conduct thorough research or consult with a professional before making any investment decisions

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