The crypto market continues to face challenges, but there is optimism about Bitcoin (BTC). Throughout 2024, the average cost of Bitcoin Spot ETFs (excluding GBTC) has become a crucial support level in the ongoing bull rally.

Although the price of BTC fell below this level twice, Spot ETF investors did not panic and held on to their investments. This shows their resilience despite the difficult market conditions.

Spot ETFs have provided more regulated access to the Bitcoin market, increasing investor confidence. With better regulation, BTC is gaining wider acceptance among institutional investors.