Analysis of Market Trends After Bitcoin Halving
After Bitcoin completes its fourth halving in 2024, the market will enter a new cycle. Historical data shows that a bull market typically occurs 12-18 months after halving, but this cycle presents new characteristics: the proportion of institutional investors has risen to 55%, the daily net inflow of spot ETFs is $120 million, and the number of open contracts in derivatives has reached an all-time high. Analysts point out that this cycle may be prolonged, with a peak expected in Q2 2025 and a target price in the range of $100,000 to $120,000. Investors need to pay attention to the Federal Reserve's policy shift and the impact of global liquidity changes on the cryptocurrency market.