What prevents $BTC from shooting higher after #halving and approval of #ETF of the coin for spot purchase at #eua

 In April of this year, there was the fourth halving of #bitcoin , an event that reduces miners' rewards by half. Historically, this event is followed by the rise of this cryptocurrency. This event, combined with the approval of #ETFs. on the US spot market, left investors hopeful about a take-off of $BTC , however, this has not yet occurred and the currency has fluctuated and, even with moments of stability, is experiencing challenges. This was due to buyers' early attempt to capitalize, given that, even before the halving, bitcoin showed an increase motivated by the institutionalization of the cryptoactive at the end of 2023. Thus, there was a lateralization of the event. Regarding the launch of ETFs for spot purchase, even though it was considered a historic milestone for the network and generated expectations of an increase in value, it still has less representation in the price of BTC than the demand for it as an asset. 

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