Bitcoin Halving: Macro Factors and Market Chaos
Coinbase's insights post-halving suggest that while the historical evidence supporting a positive influence on Bitcoin's performance is limited, the upcoming halving is expected to continue the cryptocurrency's strong performance. The market is also influenced by macroeconomic factors such as potential rate cuts by the US Federal Reserve and heightened selling pressure from miners and companies emerging from bankruptcy. On-chain analytics indicate similarities to the 2018-2022 period and a decline in the likelihood of long-term Bitcoin holders selling off their assets, suggesting less inclination to capitalize on market strength during halvings.