Bitcoin will finish the year as one of the most profitable assets, achieving a 160% growth and outperforming most traditional assets, only second to Nvidia stocks. This success was partly driven by the hype around Bitcoin ETF applications, as noted by Kaiko Research.

Analysts identify three key phases in Bitcoin's price dynamics this year: an early rally from cyclical lows, a mid-year growth slowdown, and a rally towards the year's end, indicating the emergence of a new bull market. The growth was particularly notable following BlackRock's application for a spot Bitcoin ETF, which led to a price surge from $28,000 to nearly $45,000.

In terms of risk-adjusted profitability (Sharpe Ratio), Bitcoin ranked second after Nvidia. The SEC is expected to decide on Bitcoin ETF applications in early January, which could impact Bitcoin's price and liquidity. Major Wall Street players vying for approval include Fidelity, WisdomTree, ARK, 21Shares, VanEck, and others.

This year, Bitcoin began to lose its correlation with stock indices, including the Nasdaq 100, especially after surpassing the $40,000 mark, as analysts point out. This change in correlation may indicate a new phase in the market perception and use of Bitcoin.