During its halving, bitcoin’s mathematically-metered supply—or “issuance”—is cut in half. The halving has occurred roughly every four years since bitcoin’s inception during the Global Financial Crisis. Past halvings have taken place during the early stages of bitcoin bull markets. On April 19, however, bitcoin’s fourth halving led to a choppy market, until recently. Although the launch of the US spot bitcoin ETFs in January bolstered market demand early in the year, other significant events incr