? 2024 was all about BTC! Let's take a quick recap!

Hello TradeSantians!

As we approach the new year, we wanted to take a moment to wish everyone a Happy New Year in advance!

2024 has been a game-changing year for the crypto industry, highlighted by the launch of crypto ETFs with strong institutional interest, corporate acquisitions, and favorable political endorsements, particularly in the U.S. True to form, Bitcoin didn’t disappoint, surpassing the incredible $100,000 milestone.

So, let's take a moment to recap the events that have shaped the market this year.?

The Spot Bitcoin ETF Launch:?On January 10, 2024, the SEC approved the first spot Bitcoin ETFs, a landmark event for the crypto industry. Over the year, analysts and traders carefully tracked inflows and outflows, which played a key role in shaping Bitcoin's price movements. As of December 28, total net assets have reached $106.68 billion, representing 5.70% of Bitcoin's market cap.

Spot Ethereum ETFs: After the legendary launch of spot BTC, the market sought expansion — this time toward Ethereum. The launch took place in July. Within the first 15 minutes, Ethereum-ETF trading volumes surpassed $110 million, as reported by Bloomberg analyst Eric Balchunas. While significant, this figure is about 50% lower than Bitcoin’s ETF debut in January. As of December 28, these funds have accumulated over $12.11?billion in assets. Despite trailing Bitcoin in growth, upcoming regulatory changes in the U.S. could strengthen Ethereum’s position.

Bitcoin’s Halving: This fundamental event is one of the key drivers of BTC’s growth in 2024. The halving in April reduced the daily issuance of new coins from 900 to 450. At the time of the event, Bitcoin's price was around $63,000, and for the following months, the trading range stayed between $60,000 and $70,000. This isn’t surprising, as it’s believed that the average uptrend typically begins around 170 days after the halving.

U.S. Elections and the Main Rally: Bitcoin’s remarkable 2024 growth mirrored Donald Trump’s political rise. Ahead of the November 5 election, the cryptocurrency gained momentum as his chances of winning increased, becoming a “bet on Trump”. After his victory, Bitcoin surpassed $100,000, fueled by optimism for a blockchain-friendly government. The inauguration is scheduled for January 20, 2025.

Trump’s proposals included a national Bitcoin reserve, banning CBDCs, making the U.S. the global crypto hub, and protecting mining and personal custody of digital assets. These initiatives sparked optimism within the digital currency sector.

MicroStrategy’s BTC accumulation: MicroStrategy played a pivotal role in the cryptocurrency market’s growth in 2024. The company added 249,845 BTC to its holdings, raising its total to over 444,000 BTC by year-end. Its bold acquisition strategy, paired with the introduction of the 21/21 plan, propelled its stock price by more than 400%, solidifying MicroStrategy’s position as a dominant force in the digital asset ecosystem

That’s not all — 2024 has been even more than we expected. For a deeper look into the trends shaping the year, be sure to check out our blog.

In the meantime, as we look ahead to 2025, we’re excited to see where this journey takes us together. We wish you a year filled with growth, success, smart trades, and new opportunities! Thank you for being a part of the TradeSanta community! ??

Happy holidays!

The TradeSanta Team