According to Odaily Planet Daily, since Bitcoin completed its fourth halving in April 2024, the BTC price has only increased by 43.4%, far below the gains seen after the previous three halvings, marking the worst performance in history. Analysts point out that factors such as macroeconomic uncertainty, the trade policies of the Trump administration, ETF capital outflows, and changes in market structure have weakened the halving effect. In addition, the Bitcoin market has gradually matured, with price volatility decreasing; its 60-day volatility has dropped from 200% in 2012 to around 50% currently, and it may exhibit a more stable but limited upward trend in the future.

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