@jacobgate
The halving effect, where Bitcoin’s block reward cuts historically triggered major bull runs, appears to be evolving. In earlier cycles, reduced issuance significantly impacted supply dynamics. However, as Bitcoin matures and overall market capitalization grows, halving-driven scarcity may play a smaller role compared to macro factors, institutional adoption, and liquidity cycles. While halving still reduces miner selling pressure, much of its impact is anticipated and priced in earlier. The effect now acts more as a psychological catalyst than a sole driver. Thus, the halving’s influence persists but is gradually diminishing relative to broader market forces.
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