Bitcoin halving event is considered a big event in the cryptocurrency world. Halving the circulating supply usually has a significant impact on the price, causing great excitement among investors. However, regarding the upcoming halving event, some analysts’ warnings attracted attention.
Considering the trends observed after previous halving events, analysts at Steno Research warned that the “sell the news” reaction could occur this time too. Following halvings in the past, it has been observed that the price experiences a short-term decline and investors sell their holdings to make a profit. Therefore, there is a high probability that a similar scenario will occur this time too.
However, despite these warnings, many investors believe that the halving event will increase the price. However, analysts at Steno Research suggest that the price rise may perhaps be more limited than expected and there may even be a short-term correction.
Analysis shows that after the halving, the Bitcoin price may experience an 8.4% drop in the first 90 days. This could be a significant risk for short-term speculators and Bitcoin ETF buyers. In particular, when market volatility is low, price movements become more difficult to predict.
In summary, despite rising expectations, historical models show that short-term speculators and Bitcoin ETF buyers can take advantage of this event to make profits.
Miners Selling Their Bitcoin Assets
Additionally, according to the latest data, Bitcoin’s daily mining rewards are at record levels, and this comes at a time when the cryptocurrency is reaching almost all-time high prices. However, when this situation is examined in depth, it seems that some important points cannot be overlooked.
Powered by CryptoQuant to data Based on this, it turns out that Bitcoin’s daily mining rewards are in an increasing trend, which may affect the liquidity in the market. Although there is a decrease in the amount of newly mined Bitcoin, especially after critical events such as halving, the total value obtained by miners is still at a remarkable level. However, according to analysts, the impact of this situation on prices may not only be positive.
According to an analysis by Steno Research, it is stated that miners may gradually sell their Bitcoin assets to cover their operational costs. This could put extra supply on the market, creating downward pressure on prices. Especially during critical periods such as halving, miners selling their assets to increase their income may affect the supply-demand balance in the market and contribute to a decrease in prices.
As a result, CryptoQuant data reveals that Bitcoin’s daily mining rewards are now at record levels, nearly matching the cryptocurrency’s all-time high price. Despite the decline in newly mined BTC following the halving event, the overall value of these rewards is still significant. However, Steno Research notes that miners may gradually sell their Bitcoin holdings to cover operational costs, which could contribute to downward pressure on prices after the halving.
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