🚀 Bitcoin price surpassed $40,000 this week, recording new highs since the 2022 bear market. Just two months ago at the end of September, the value of one full coin was under $27,000.

📈 Excitement of Bitcoin ETF approval by SEC drove BTC higher in Q4. However, the world's leading cryptocurrency could experience two major macro headwinds in 2024, with Bitcoin halving and perhaps the Federal Reserve cutting interest rates.

🏦 While Bank of America expects interest rates to decrease in 2024, Switzerland-based UBS also makes similar predictions. Bitcoin's halving will occur in April 2024, and if the Fed lowers interest rates, the increasing supply of the dollar and the decreasing supply of BTC could strengthen the economic factors supporting the price of Bitcoin.

🔍 Switzerland-based blockchain analytics firm Glassnode draws a sharper picture of the supply and demand economy before Bitcoin's halving. Glassnode notes that 70% of the circulating Bitcoin supply was inactive in November, and with less than five months until the BTC halving, existing BTC holders show high determination and long-term commitment.

🏢 Glassnode also predicts a $70 billion increase in institutional demand after the SEC approved a Bitcoin ETF product for regulated investors. Combined with the Fed lowering interest rates in 2024 and Bitcoin's halving, this could be the perfect storm to meet the terrific price predictions many analysts are making this quarter.