Bitcoin rallied to its highest price since December 2021, reaching $50,000 for the first time in over two years.

By: AHSAN MUMTAZ Learn more

– This triggered a rally for other cryptocurrencies and related stocks, such as Coinbase and Marathon Digital.

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[{"selector":"#anim-f78e8df4-2212-4c09-8508-e9fb8db25f01 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-4acfe0ac-4661-44b6-9945-a426b413c215","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cd88f114-d9eb-4380-98aa-aeb9541f7516","keyframes":{"transform":["translate3d(0px, 130.65408%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] – Bitcoin ETFs surged, with the iShares Bitcoin Trust (IBIT) leading the way in terms of inflows.

[{"selector":"#anim-6ecb6c59-1b70-438b-b4d8-6e6d15e42e76 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-9aa8571c-5e2b-4891-8a64-7683c9233c16","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5cd173e9-0e49-481c-b777-281b3e8a059e","keyframes":{"transform":["translate3d(0px, 108.64902%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] – Grayscale Bitcoin Trust (GBTC) saw outflows, but new ETFs have recorded $2.65 billion in inflows since launch.

[{"selector":"#anim-5e66ed9b-3826-4731-8b97-7d085c378a8f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-bc327022-2772-43e7-af9c-024ccf51f31d","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1582bfb5-b25b-40c4-99ee-a4019ef74bc9","keyframes":{"transform":["translate3d(0px, 118.67726%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] – Several trends are expected to drive bitcoin in 2024, including the upcoming halving event and increased institutional participation.

[{"selector":"#anim-49641b16-09ea-43c7-a9d8-2727e5550798 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-0.02214624028175795%, -11.724012014061115%) scale(0.7633587786259542)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-d424ce96-b479-48de-91dd-7680d6ca1728","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-37095105-aa1d-47c2-8c6f-71c19039e280","keyframes":{"transform":["translate3d(0px, 115.05124%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] – The most important factor for bitcoin's future may be mainstream adoption.

[{"selector":"#anim-37d10150-27ec-416f-9912-d504fa8e3f64 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-2.5821625600647367%, -8.566737621153745%) scale(0.7633587786259542)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-f571d836-a40f-4be7-891f-b353124cab5e","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a13c3b74-bf22-4a62-ad57-df47d5de5950","keyframes":{"transform":["translate3d(0px, 117.72489%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] – A majority of financial advisors don't have access to the new ETFs yet, but this is expected to change in the coming months.

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