Key indicators tracking Bitcoin's blockchain activity, miner flows, and the 200-day moving average suggest bitcoin is far from being overvalued and could continue to rally in 2024.
"Corrections shake out 'weak hands' and leverage, allowing for a stronger foundation for eventual moves higher," said well-followed analyst Will Clemente.
A top official has asked members of Congress for new laws to extend the Treasury's crypto reach beyond its existing enforcement and sanctions abilities.
Digital asset funds surpassed $1 billion in net inflows this year, with money overwhelmingly flowing into BTC-focused investments, CoinShares reported.