Brokerage Benchmark noted in a research note on Thursday that the Bitcoin halving will have the most significant impact on cryptocurrency miners. The recent rise in Bitcoin prices may save many less efficient miners in the short term, as most publicly traded Bitcoin miners have launched or announced plans to increase power and hash rate capacity in response to reduced revenue and gross profits Case.
Benchmark also said the halving’s impact on cryptocurrency prices could be amplified by concurrent demand shocks following the spot Bitcoin ETF’s U.S. approval in January. They expect that once institutions start seriously investing in Bitcoin ETFs, inflows into spot Bitcoin ETFs will grow significantly.