As of December 25, 2024, Bitcoin is trading at around $98,559, showing a modest increase from the previous close.

This year, Bitcoin has been on a rollercoaster, recently flirting with the $100,000 mark. Earlier this month, it even surpassed this milestone, reaching new all-time highs.

Interestingly, the market's wild swings seem to be calming down. Data from Glassnode indicates that the most significant pullback in this cycle was a 32% drop on August 5, 2024. Most other pullbacks have been around 25% below local highs, suggesting that this cycle's volatility is among the lowest recorded.

A big factor in this trend is the growing interest from institutional investors. The introduction of spot Bitcoin ETFs has opened the floodgates for institutional money, providing a more accessible and regulated avenue for investment. This influx of institutional demand has been a key driver behind Bitcoin's recent price movements.

Despite these positive developments, it's worth noting that Bitcoin ETFs have recently seen continued outflows amid market downturns, reflecting a growing sense of caution among institutional investors.

In summary, Bitcoin's journey this year has been marked by significant milestones and a maturing market landscape. The reduced volatility and increased institutional participation suggest a more stable and robust market environment. However, the recent outflows from Bitcoin ETFs indicate that investors remain cautious amid the ever-changing market dynamics.

Stay tuned for more updates, and as always, happy trading!

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