ars, and the market value exceeded 450 billion US dollars.output title: Bitcoin Chronicles 2024: A Review of the Key Moments that Influenced the Fate of BTC

ption: It's time for the year-end summary again. The market in 2024 is complicated. The Bitcoin spot ETF was approved, the halving event came as expected, the price soared, the computing power hit a new high, the ecology emerged, the political situation changed, and the positive factors continued... Many factors have driven BTC to set off a global investment boom. The price of the currency has repeatedly set new highs, breaking through the 100,000 US dollar mark, and the Google trends index has more than doubled compared to last year, opening a highlight moment! For the entire crypto industry, 2024 is a milestone year. Each major event engraves the future trajectory of Bitcoin and even the entire cryptocurrency market.

again, and major cryptocurrencies generally rose. Institutions are buying BTC on a large scale, and the price of BTC has soared. According to data from CoinShares, last week, institutional investors bought a net 100 million U.S. dollars in cryptocurrency products, and the total net capital inflow in 2024 has reached 830 million U.S. dollars. Among them, bitcoin products saw a net capital inflow of 90.4 million U.S. dollars, while short bitcoin products saw a net capital outflow of 1.3 million U.S. dollars.

BTC price once again hit a new historical high. This round of BTC price increase is mainly driven by the following factors: the approval of BTC spot ETF, the halving of BTC, the entry of institutions, and the good performance of major cryptocurrencies. Among them, the approval of BTC spot ETF is undoubtedly the most important driving factor. The approval of the BTC spot ETF has opened up a new channel for institutions to enter the crypto market, and a large amount of institutional capital has poured into the crypto market, driving up the price of BTC. In addition, the halving of BTC has also reduced the output of BTC by half, which has led to a decrease in the supply of BTC in the market and an increase in the price of BTC. At the same time, the entry of institutions has also brought new vitality to the crypto market, and the good performance of major cryptocurrencies has further boosted investors' confidence in the crypto market and attracted more capital to enter the market.

The price of BTC has once again hit a new historical high, which also shows that the crypto market is still in a bull market, and the price of major cryptocurrencies is still rising. However, investors should also be aware that the crypto market is volatile and the price of major cryptocurrencies may fluctuate greatly at any time. Therefore, investors should invest rationally and avoid blindly following the trend.outputText: 2024 is destined to be an unforgettable year for the crypto industry. A series of major events have occurred throughout the year, driving Bitcoin to set off a global investment boom and refreshing the historical highs of the currency price several times. Among them, the price of the currency has broken through the 100,000 mark, and the Google Trends index has also doubled compared to last year, opening up a highlight moment!

For the entire crypto industry, 2024 is a milestone year. Each major event engraves the future trajectory of Bitcoin and even the entire cryptocurrency market.

This report uses time as the context and events as the nodes. MetaEra will review the key moments that have influenced the fate of Bitcoin. Let us walk into the Bitcoin Chronicles of 2024 and experience the glory and hardship of this year.

Crypto Opening Moment: Bitcoin Spot ETF Approved

On January 10, the U.S. financial arena ushered in a landmark change: the approval of the BTC ETF. This allowed U.S.-listed companies, pension funds, various funds, and other institutional investors to openly enter this mysterious field through this financial tool, opening a new era of public purchase and holding of Bitcoin.

In April, the first batch of Hong Kong Bitcoin and Ethereum spot ETF products applied by the Hong Kong subsidiaries of China Asset Management, Bosera, and Harvest Asset Management were officially approved by the Hong Kong Securities Regulatory Commission. Subsequently, on April 30, these highly anticipated products were officially listed on the Hong Kong Stock Exchange.

The market cheered the launch of ETFs, the depth of crypto market products increased, and institutions entered the market in large numbers. The market was jubilant, and past doubts turned to the pursuit of value storage. Traditional capital poured into the crypto world, and crypto investment became closer to the Web 2.0 market.

In the short term after the news was released, the overall performance of the Bitcoin market was stable, and there was no shock. Many people questioned the weakness of ETFs, and institutional conspiracy theories emerged frequently, with arguments of "all show and no real work" coming one after another. All these unknowns, like a magnet, attracted the attention of countless investors and industry observers, and became the most suspenseful chapter in the future development of Bitcoin. In the undercurrent, Bitcoin adheres to the "time machine theory," waiting for new impetus and using time to prove its value.

Bitcoin halving: a crucial turning point in fate

On April 20, Bitcoin halved at block height 840,000. After the halving, the block reward will drop from 6.25 bitcoins to 3.125 bitcoins.

Normally, the price of BTC will rise after the halving. After all, the price has hit new highs after the previous three halvings without exception. Many investors have the same expectations for the halving in April 2024, believing that this will undoubtedly