The Bitcoin price has seen at least a 270% surge after each halving event. The price of Bitcoin before 2012’s halving was $12, which jumped to $964 just a year later. Similarly, BTC’s price before the 2016 halving was $663, which surged to $2,500 a year later. Again, in 2020, Bitcoin price before the halving date was $8,500, and just over a year later, it rose to $68,783.
Each bull cycle has a driving factor behind it. In 2017, the retail sector carried the BTC price to $17,000, while institutional influx helped BTC rise to almost $69,000 in 2021. In 2024, market analysts suggest that institutional players are moving the current market, evidenced by the daily net inflows to the new spot Bitcoin exchange-traded funds (ETF) in the United States.
Spot Bitcoin ETFs have seen an average of nearly half a billion dollars in daily inflows, while new BTC being added to the market is meeting just one-tenth of the current demand from spot Bitcoin ETFs. Analysts believe the significant institutional demand and limited supply — further reduced by the upcoming halving — will be a catalyst for BTC price post-halving.