Bitcoin's Fourth Halving and Impact of ETF Developments

Bitcoin's fourth halving has taken place, reducing block rewards to 3.125 bitcoins, CryptoPotato reports. As historically significant, as a stimulus for the new Bool cycle, it is an ongoing negotiation balancing questions on the abbreviated effects of Hailong. Nevertheless, there are several positive developments in the Bitcoin sector that could increase interest in the coming months.

In mid-January, the United States Securities and Exchange Commission approved nearly a dozen spot bitcoin ETFs for trading on local exchanges, one of the most significant developments of the year. This spot bitcoin ETF was led by BlackRock's IBIT and Fidelity's FBT, which have distilled a few trillion dollars worth of bitcoin in just a few months. The request nearly doubled spot bitcoin prices yesterday, with its US dollar price hitting a new all-time high and reaching $12,000 for the first time since Hailong. But as inflows began to slow, and occasionally turn negative, bitcoin's price growth hit a halt.