Bitcoin and the broader cryptocurrency market have enjoyed an exceptional 2024, with analysts forecasting continued growth into 2025.

Bitcoin surged from $40,000 to $107,000, marking a 160% increase driven by several key developments in the digital asset space.

According to Woramet Chansen, investment adviser at Merkle Capital, multiple factors contributed to this remarkable performance. The approval of Bitcoin spot ETFs emerged as a crucial catalyst, attracting institutional investors and generating $36 billion in inflows. This was complemented by the authorisation of Bitcoin options ETFs and Ethereum spot ETFs, significantly broadening market accessibility.

The…