The 2024 Bitcoin halving is the “most bullish” setup for BTC price
Despite a pre-halving slump in ETF inflows, Bitcoin could resume its rally to new all-time highs as the next wave of institutional investors are preparing to gain exposure to BTC.
The fourth-ever Bitcoin halving, which occurred on April 20, could give rise to the “most bullish” Bitcoin cycle, based on historical chart patterns combined with the presence of spot Bitcoin exchange-traded funds (ETFs).
For the first time in crypto history, Bitcoin’s (BTC) price reached a new all-time high of above $73,600 on March 13, before the halving event. Historically, Bitcoin price rallied to new highs in 518 to 546 days after previous halving events.
The pre-halving all-time high, combined with institutional inflows from the ten United States spot Bitcoin ETFs, created the “most bullish setup” for Bitcoin, according to Sukhveer Sanghera, founder and CEO of Earth Wallet. He told Cointelegraph:
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