🚨📉 BITCOIN CASH GIVES A WARNING SIGNAL BEFORE THE BTC HALVING EVENT! 🚨💥

As the fourth Bitcoin mining reward halving approaches in just eight days, the cryptocurrency market is on edge. Such events have historically heralded bullish periods for Bitcoin, but its offshoot,#BitcoinCash (BCH), is painting a cautionary picture, urging traders to temper their expectations for an immediate price surge after the halving. .

The rally in#BCHtriggered by its parent blockchain's block coin issuance halving to 3,125 BCH on April 4, quickly lost steam as prices retreated 15% to $604. Adding to the concern, notional open interest in BCH perpetual futures has plummeted by a staggering 70% to $376#millionin just seven days, and funding rates have turned negative, indicating a shift in sentiment. towards the downtrend.

Algorithmic trading firm#Wintermutesuggests that recent BCH activity may portend potential selling pressure for BTC post-halving. Analysts have long warned of a “sell the news” scenario for BTC, and JPMorgan anticipates a pullback to $42,000 once enthusiasm for the halving fades.

Despite BTC's current price of $70,700, representing a substantial 67% year-to-date gain, concerns remain that post-halving miner sales could curb bullish momentum. Markus Thielen, founder of 10X Research, estimates that miners could liquidate $5 billion worth of BTC after the halving, which could lead to a sideways market for several months.

Will bitcoin price skyrocket or crash after the halving event?

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