Bitcoin shows a remarkable upward trend in 2024-25. As of November 2024, BTC has surged past the $93,000 mark, far exceeding the $40,000 starting point at the beginning of the year, with a growth of 132%. This bull run in the crypto market not only set new all-time highs but also signaled the true beginning of an era of full institutional capital entry.
Unlike previous rallies driven by retail enthusiasm, the current market is primarily propelled by institutional factors: in January 2024, the US SEC approved a spot Bitcoin ETF, attracting over $2.8 billion in inflows within just a few months. The continuous accumulation by giants like BlackRock and MicroStrategy has completely rewritten the supply side of Bitcoin—large amounts of BTC are locked in institutional wallets, significantly tightening market circulation.
Institutional innovations such as