According to BlockBeats, on August 9, crypto analyst PlanB posted on social media, “I think the problem with the current Bitcoin market is that it entered the bull market too early. Normally, Bitcoin halving (every 210,000 blocks) occurs in the accumulation phase, but the 2024 halving (840,000th block) occurs in the bull market phase. Therefore, we have been acting in advance, but the market is not ready to rise.”