Market Reaction After Bitcoin Halving
The fourth Bitcoin halving was completed in April 2024, reducing the block reward from 6.25 BTC to 3.125 BTC. Historical data shows that halvings are usually accompanied by bull markets, but this time the market reaction has been relatively flat, with limited price fluctuations in the short term. Analysts believe that institutional investors and ETF inflows may become new driving factors, while miners face profitability pressure, which could accelerate industry consolidation. In the long run, the scarcity effect of halving is still viewed positively, but caution is necessary regarding the impact of macroeconomic uncertainty on the crypto market.