🔥 Two Important Developments Expected for #Bitcoin After the Halving May Ignite the Ascension Fuse!

🔎 Bitcoin's long-awaited halving event ended on April 20, and the asset's block mining reward dropped from 6.25 Bitcoin to 3,125 Bitcoin. This was the fourth reward halving since Bitcoin's inception, and historically these events have been followed by significant price increases. After the 2012 halving event, Bitcoin's value increased by an impressive 9,500%, while the 2016 halving event saw a 3,000% increase over the following year.

💡 Spot Bitcoin exchange-traded funds based in the United States have seen remarkable growth since their launch in January 2024. BlackRock's iShares Bitcoin Trust (IBIT), for example, experienced a massive 71-day streak of daily inflows, reaching nearly $15.5 billion in assets before finally recording zero net inflows on April 24. This milestone places IBIT among the top 10 of the last 10 longest entry series.

💸 Despite IBIT's pause, other $BTC ETF funds such as Fidelity's Wise Origin Bitcoin Fund and ARK Invest's ARK 21Shares Bitcoin ETF fund continued to attract decent inflows during the same period. In fact, since their launch, US spot Bitcoin ETF funds have accumulated $12.3 billion in assets under management.

However, it is important to recognize that inflows have slowed somewhat in the second quarter of 2024 compared to the first quarter's peak of $6 billion in February. However, analysts continue to expect an increase due to continued demand.