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The recent sharp decline in Bitcoin’s price and that too just after its fourth halving event has raised concerns among investors. The distress in the market had grown as BTC saw an 11% price drop since the much anticipated halving event. However, the biggest crypto is now down by around 17% in the last month. Bitcoin sees major dump 
If we take a look at the history, Bitcoin halvings are linked with post-halving rallies. This surge often occurs about a year or more afterward. However, the current cycle stands different from previous ones. One of the major dissimilarities comes in as the extraordinary <a href="https://news.todayq.com/are-bulls-coming-back-bitcoin-etf-outflow-reduces/" rel="noopener noreferrer nofollow">bull run</a> BTC saw before the halving.&nbsp;
A huge rally took the original crypto to hit its all time high (ATH) before the event. This turns out to be a strange event in its history.
Bitcoin price dropped by around 10% in the last 24 hours. BTC is trading at an average price of $57,678, at the press time. Its 24 hour trading volume is up by 45% to stand at $44.8 billion.
Experts have highlighted this unique aspect of the recent halving. They also noted that despite the pullback, Bitcoin has still seen a 35% increase since the beginning of the year. They linked the recent decline with broader market trends. This includes a drop in the stock market and economic uncertainties.
Some analysts from JPMorgan had predicted a post-halving drop in Bitcoin’s price. Markus Thielen, CEO of 10x Research, also suggested that Bitcoin could fall to a $52,000 price level after the event. He cited a slowdown in the inflow of funds into crypto exchange-traded funds (ETF). ETF and Fed Reserve 
Beyond this event and ETF flows, analysts believe numerous other factors could drive the crypto to new highs in 2024.
BTC saw a decline on May 1. It was driven by anticipation of the Federal Reserve’s interest rate decision. The market saw Chairman Jerome Powel’s remark highlighting grappling with inflation.
He suggested a likelihood of maintaining his stance and it can be seen by strong economic indicators and expectations of a high April 26 employment report. Speculations of high interest rates had lifted the yield on the benchmark.
The crypto market saw a very bloody Wednesday as the cumulative cap dropped by more than 5% over the last 24 hours. It now stands at $2.15 trillion.

Is Bitcoin post halving rally still on horizon despite 10% dump?

Todayq News

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