Bitcoin Market Dynamics Still Positive Post-Halving

Name	Symbol	Market	Market Cap ($)	Algorithm
Four	FOURRUSD	Crypto	795,039,720	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Four

FOURRUSD

Crypto

795,039,720

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.000041	2.36%	0.001791

Price Change

Price Change %

Current Price

Bid Price

Offer

0.000041

2.36%

0.001791

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.001809	0.001739	0.001758	0.00175	0.00000000 - 0.015217

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.001809

0.001739

0.001758

0.00175

0.00000000 - 0.015217

Exchange	Last Trade	Size	Trade Price	Currency
Cryptocurrency	00:38:47	0.00000000	0.002803	USD

Exchange

Last Trade

Size

Trade Price

Currency

Cryptocurrency

00:38:47

0.00000000

0.002803

USD

Price x Volume	Volume	Base Symbol	Related Pairs
0.00000000	0.00000000	FOURR

Price x Volume

Volume

Base Symbol

Related Pairs

0.00000000

FOURR

Bitcoin Market Dynamics Still Positive Post-Halving – Bitfinex Analysis

23/04/2024 4:00pm

NEWSBTC

In the midst of the dramatic changes that have occurred in the cryptocurrency space after the Bitcoin halving event, Bitfinex provides a perceptive analysis that reassures investors that the market dynamics of BTC have remained positive in the post-halving period. Bitfinex examines the on-chain data and finds encouraging signs for Bitcoin in spite of the United States economy’s current state of uncertainty in its most recent Alpha report, which was released on April 22. Bitcoin Market Dynamics Remains Bullish According to the Hong Kong-based crypto platform, exchange withdrawals of Bitcoin are currently at levels not seen since January 2023. This simply indicates that a lot of investors are putting their assets in cold storage in expectation of price rises. Related Reading: Bitcoin Halving: Anticipating Price Impact, Miner Challenges, And Long-Term Outlook Also, the exchange noted that long-term investors’ aggressive selling has not yet caused the usual pre-halving price decline, which suggests that new market participants are absorbing the selling pressure quite well, highlighting the tenacity of the present market structure of Bitcoin. The Bitfinex Alpha report revealed that the average daily net inflow from spot Bitcoin Exchange-Traded Funds (ETFs) is $150 million. Given the ETFs’ inflows far exceeding the $30 and $40 million daily issuance rate of BTC following the halving, this significant supply and demand imbalance could encourage further price appreciation. Bitfinex further claims the massive purchases of spot Bitcoin ETFs, which have dominated the entire year’s market narrative, may decline. However, recent ETF outflows have shown that ETF demand may be starting to stabilize. It is important to note that the recently concluded Halving cut down miners’ reward from 6.25 BTC to 3.125 BTC. As a result, miners are now modifying their operating tactics in order to sustain their activities against the decline in reward following the Halving. Thus, the amount of Bitcoin that miners are sending to exchanges has significantly decreased, which may indicate that they are selling ahead of time or collateralizing their holdings to upgrade infrastructure. Consequently, this could possibly lead to a gradual increase in selling pressure rather than a sudden drop in value at the Halving. New BTC Whales Surpassed Old Whales Since the conclusion of the fourth Halving, on-chain data shows a significant rise in new Bitcoin whales. CryptoQuant Chief Executive Officer (CEO) Ki Young Ju, reported the development, noting that the initial investment made by the new whales in Bitcoin is nearly twice that of the old whales combined. Related Reading: Crypto Expert Predicts A Narrative Shift Post-Bitcoin Halving According to the data, the total holding by these new whales, which are short-term holders, is valued at $110.6 billion. Meanwhile, the old whales, which are long-term holders, own a whopping $67 billion worth of BTC. This change in whale demographics may impact Bitcoin’s future course and the dynamics of the cryptocurrency landscape as a whole. Featured image from iStock, chart from Tradingview.com

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FOURRUSD Four