As we move into 2024, the outlook for bitcoin (BTC) appears to be at a crucial inflection point. Various fundamental factors could drive its price higher, not only in 2024 but also in much of 2025 if the digital currency behaves following the patterns that have characterized it in the past.

The eyes of the financial world are on bitcoin, waiting to see how this chapter in its history will unfold. Of course, the future cannot be predicted infallibly, but the exploration of various indications allows you to make conjectures that serve to position yourself in the market. Get ready to explore signs that suggest a BTC "bullish explosion" is about to happen.

First, the nearest upside driver in time appears to be the approval of one or more spot bitcoin ETFs in the United States. This decision is in the hands of the Securities and Exchange Commission (SEC) and the decision would be made — according to specialist James Seyffart — between January 8 and 10.

The potential approval of spot bitcoin ETFs in the United States represents a monumental opportunity for the BTC ecosystem. ETFs, being investment vehicles that are traded on traditional stock exchanges, offer an accessible and regulated way for investors to gain exposure to bitcoin without needing to own the digital currency directly. This is especially attractive to institutional investors who prefer to avoid the technical and security (and even regulatory or tax) challenges associated with buying and storing assets directly.