"285 days have passed since the bitcoin halving," CryptoQuant founder Ki Young-Ju said in an X post Friday. "If there is no bull market in 14 days, this will mark the longest sideways post-halving in history."
Bitcoin's boring price action, characterized by continued accumulation by small investors, is being attributed to several reasons, including the U.S. election uncertainty and renewed uptick in the U.S. Treasury yields.
Halvings happen about every four years and decrease the block rewards to miners. Bitcoin halving has always been associated with bull rallies, with asset prices increasing by several hundred percent in the months following previous events.
The higher bond yield move and SPX at record highs are helping to push USD higher, but it is coming at the expense of crypto, where BTC is back to hovering at around the 60k level again.
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