Here are the trading operations for both BTC and ETH in 2024:
Bitcoin (BTC) Trading Operations in 2024:
January: Bitcoin started 2024 with strong momentum, driven by the approval of spot Bitcoin ETFs in the United States. This institutional interest led to significant inflows and price appreciation.
February - March: BTC continued its upward trajectory, reaching new all-time highs above $73,000 in March. This rally was fueled by sustained ETF inflows and increasing retail interest.
April - May: Following its peak, Bitcoin experienced a correction in April, primarily due to profit-taking and some macroeconomic concerns. However, it found support and began to stabilize in May, showing resilience. The halving event in April, which reduced the supply of new Bitcoin, was a key long-term bullish factor, though its immediate price impact was less pronounced than some anticipated.
June - July (Current): Bitcoin has generally traded within a range, consolidating recent gains. While still well above its yearly lows, the market is assessing the impact of interest rate policies and broader economic indicators. Institutional accumulation through ETFs continues to be a significant underlying support.
Ethereum (ETH) Trading Operations in 2024:
January: Ethereum also saw positive movement at the beginning of the year, tracking Bitcoin's gains and benefiting from the overall positive sentiment in the crypto market.
February - March: ETH demonstrated strong performance, breaking above key resistance levels. A major catalyst was the anticipation and eventual approval of spot Ethereum ETFs in the United States in late May. This prospect generated considerable excitement and speculative buying.
April - May: Ethereum's price surged significantly in May, particularly after the U.S. SEC approved 19b-4 filings for spot Ethereum ETFs. This was a landmark decision, opening the door for mainstream investment in ETH.
June - July (Current): Post-ETF approval, Ethereum has seen some consolidation. While the initial surge was substantial, the market is now waiting for the actual launch of these ETFs and the subsequent inflows. Developments within the Ethereum ecosystem, such as upgrades and growth in decentralized finance (DeFi) and NFTs, continue to influence its price.
General Trends for both BTC and ETH in 2024:
Institutional Adoption: 2024 has been marked by a significant increase in institutional adoption, largely driven by the approval of spot ETFs for both Bitcoin and Ethereum in the US. This has provided regulated avenues for traditional investors to gain exposure to cryptocurrencies.
Macroeconomic Influence: Both cryptocurrencies remain sensitive to broader macroeconomic conditions, including inflation data, interest rate decisions by central banks, and geopolitical events.
Market Volatility: While 2024 has seen overall bullish trends, both BTC and ETH have experienced periods of heightened volatility, characteristic of the crypto market.
Regulatory Landscape: The evolving regulatory environment, particularly in major economies, continues to play a crucial role in shaping investor sentiment and market dynamics for both assets.
Please provide the CSV files for BTC and ETH if you would like me to generate a specific graph of their price movements.