Bitcoin has shown little movement in recent months. After a strong start to the year, it has remained stagnant. Since July, the cryptocurrency fluctuated between $56,000 and $63,000.
Many are looking towards year-end developments and early 2025. Broader factors, like shifts in U.S. interest rates, also play a role.
Bitcoin has shown little movement in recent months. After a strong start to the year, it has remained stagnant. Since July, the cryptocurrency fluctuated between $56,000 and $63,000. This contrasts sharply with the first half of 2024, when it surged 45%. The rise was largely driven by U.S. exchange-traded funds (ETFs) linked to its spot price.
Market participants are now seeking potential catalysts for change. Many are looking towards year-end developments and early 2025. Broader factors, like shifts in U.S. interest rates, also play a role. Traders expect that BlackRock's new spot bitcoin ETF options could spark renewed interest. Approval by the Securities and Exchange Commission has created buzz.
