It has been five days since the completion of Bitcoin halving and slicing the Bitcoin mining reward to 3.125. Before Bitcoin halved, the cryptocurrencies faced a severe correction zone where Bitcoin dropped to below $60K. The same happened with Ethereum, as it went down to $2878.

So, how is the market performing post-halving? Is there any difference between the expectations for this period? Let us discuss all that in this blog.

Bitcoin Performance After Bitcoin Halving

In a week, Bitcoin price has surged by 3% and is currently trading at $63,524.58 with a market cap of $1,250,843,024,207. After the Bitcoin halving, the BTC rose to its highest point of $67,215 on the 23rd of April and now seeks to enter a downward trend as the price has dropped 4.31% in the last 24 hours. In contrast to the losses, the Bitcoin trading volume has surged 36%, bringing the value to $32,662,374,482.

As per Alex Kuptsikevich, a well-known analyst, technical indicators are indicating a bearish trend. He said,

Bitcoin retreated significantly from its 50-day moving average, which we see as an important manifestation of bearish strength. Most crypto traders took this signal. Bears are plotting a new attack.

Bears To Take Over The Crypto Market Days After Bitcoin Halving

The impact of Bitcoin’s fall is clearly visible on the crypto market as the global market cap has declined to $2.34 Trillion with a drop of 4.69%. Bitcoin has 53.5% dominance in the crypto market and is all to accuse for this market fall. It eventually shifted the fear and greed index to a neutral zone from greed.

Even the crypto market heatmap is stained in red, where almost every other cryptocurrency has been in loss over the last 24 hours. The crypto market did make a recovery immediately after halving, but the recovery was short-lived. Presently, Ethereum is at $3114 after a 4.96% drop, Solana at $144.81 after a 9.08% drop, XRP at $0.5185 after 4.76%, etc.

The past Bitcoin halving events had already warned the investors of volatility issues leading to short-term price fluctuations. Not only the miners but also the investors are worried about token supply in the future.

Bitcoin halving is not all to blame for the market down as the geopolitical tension is continuously increasing in the Middle East, which is impacting all the trades. Also, the imprisonment of Changpeng Zhao, along with the arrest of Samourai Wallet founders, is disturbing the peace of the market.

Will A Bull Run Follow Up Soon?

According to the Rekt Capital data, 518-546 days is the minimum duration for a bull run to arrive. It is the period the previous Bitcoin halving took to enter the bull market.

If history repeats itself, the bull run will arrive by mid-September to October 2025. But looking at the price chart of Bitcoin, Bitcoin surged to an all-time high earlier than the previous cycles, and based on that, the bull run might happen even in 266-315 days, which is between the periods of December 2024 and February 2025.

Conclusion

Up to now, the crypto market has performed according to the set expectations after analyzing the previous Bitcoin halving event. The crypto market faced a fall today, which might continue for a few days before the price recovers to gain stability for the next few weeks. It has to see how the crypto market will sustain itself until the bull market.

Read More Crypto Assets Mid-Week: Can Bulls Ignite Uptick?

The post How Is Bitcoin Halving Adjusting The Market? appeared first on CoinGape.

---

Filed under: News - @ January 1, 1970 12:00 am