$BTC #BTC price has been soaring, touching $40,000 this week! Just two months ago, it was below $27,000. The excitement over a potential Bitcoin ETF approval by the SEC has driven BTC higher in Q4. But wait, there's more! Two major macro tailwinds are coming up in 2024: Bitcoin's halving and possible interest rate cuts by the Federal Reserve.

Bank of America's Global Research team predicts interesting fate cuts next year, which could boost #Bitcoin price. Meanwhile, #BTC halving is expected in April 2024. With a shrinking supply of #Bitcoin and a growing supply of dollars, the economics could favor Bitcoin even more.

Glassnode, a Swiss blockchain analytics firm, reveals that 70% of circulating Bitcoin supply has been inactive for a year or more, showing high conviction and long-term commitment from current BTC holders. With lower supply in the market, it only takes a small bump in demand to drive the price higher.

Institutional demand could also see a $70 billion bump after the SEC approves a Bitcoin ETF product for regulated investors. Combine that with lower borrowing costs and Bitcoin's halving, 2024 could be a perfect storm for outrageous price predictions! enthusiasts! Hold on tight, Bitcoin