Bitcoin rose above $44,000 on Tuesday before dipping below that level early Wednesday and subsequently straddling the price. Analysts expect it could inch higher by the end of the year and benefit from several tailwinds in 2024.

Bitcoin (BTC) dropped to as low as about $16,000 amid the collapse of crypto exchange FTX in November 2022 — a year after bitcoin reached its all-time high of roughly $69,000. 

The asset’s price was at $43,780 at 4 pm ET Wednesday, up 25% in the last 30 days and 16% higher than seven days ago, CoinGecko data shows. 

Analysts have attributed the recent bitcoin price surge to optimism around the approval of spot bitcoin ETFs, Binance’s settlement with the…

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