It's been a year since Bitcoin's quadrennial halving which typically leads to price surges. While Bitcoin did reach an all-time high of approximately $95,000 after the halving, the growth rate was only about 49%, significantly lower than previous cycles where price increases reached several hundreds or thousands of percent. According to data provider Kaiko, this represents the weakest post-halving performance recorded. The current economic climate, characterized by high interest rates and uncertainty, has negatively impacted Bitcoin's performance. In earlier cycles, like those after the halvings in 2012, 2016, and 2020, Bitcoin saw massive percentage gains. The last halving reduced miners' rewards from 6.25 BTC to 3.125 BTC per block, but despite this decrease in coin issuance, the price increase failed to meet expectations. Miners are also struggling with rising operational costs and competitive pressures, leading to a sell-off of coins to cover expenses. Analysts note that the overall economic environment is making the anticipated rally absent, indicating a shift in market behaviors compared to past halvings.

Source 🔗