The halving event affects the supply of Bitcoin, potentially impacting its price cycles. Previous data shows price peaks occurring 12-18 months post-halving event, influencing market trends.
Institutional interest grows with the approval of a Spot Bitcoin ETF by the SEC. Traders show increased participation ahead of the 2024 halving, with the overall market seeing significant declines recently.
Meme coins, in light of the BTC halving, are gaining popularity but carry risks like volatility and lower market cap. Traders are cautioned against the potential risks of investing in these assets.
The recent decline in Bitcoin, the largest in eight months, signals a profit realization phase for traders. With upcoming events like instant Bitcoin ETFs in Hong Kong and Ethereum ETF approvals, market trends are shifting.
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