Bitcoin rose above $71,000 in Asian trading hours ahead of the reward halving expected later this month. The event can boost Ordinal and BRC-20 ecosystem bets even as the broader crypto market remains stable.
When halving occurs, the reward for mining transactions is cut by 50%, reducing the creation rate of new coins. This often leads to a bull market for Bitcoin, with the current reward set to drop from 6.25 BTC to 3.125 BTC.
Open interest in BTC-tracked futures has stayed above $25 billion, indicating leveraged bets on price volatility. Some Bitcoin ecosystem tokens have risen as traders anticipate a rally post-halving, providing indirect exposure to Bitcoin's performance.
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