PremiumCrypto Charts That Defined 2024 & What Goldman Sees Coming In 2025
In their 2023 yearly review, Goldman Sachs crypto team called out the positive sentiment on which the crypto market was entering 2024, and “a sense of anticipation of what 2024 will bring. Optimism over a potential spot BTC ETF approval alone may not sustain this momentum, and the market could be looking for definite catalysts to turn a corner”.
Their optimism was indeed justified, with the SEC approving the listing of spot BTC ETFs in January, but did not last long – for the rest of the year, the crypto market lost its momentum, struggled to find new catalysts and instead continued to trade in-tune to the macro environment, experiencing what one could only call a post-ETF hangover.
It wasn’t until November that we saw the market turn a corner on the back of the US presidential elections.