Bitcoin (BTC) Holders Celebrate One Year Since the 2024 Halving, Praising BTC’s Resilience

Bitcoin (BTC) holders are celebrating one year since the 2024 Bitcoin halving by praising BTC’s resilience amid a global trade war and suggesting an accelerated market cycle

Bitcoin (BTC) holders are celebrating one year since the 2024 Bitcoin halving, slashing new BTC issuance in half, and reduced block rewards from 6.25 Bitcoin (BTC) to 3.125 BTC.

Despite rising concerns over a global trade war and increased tariff tensions between the United States and China, BTC has climbed more than 33% since April 2024, according to Cointelegraph Markets Pro data.

However, broader market trends suggest that the crypto winter may not be fully over yet.

“Although Bitcoin has shown resilience, the combination of past experiences, economic uncertainty, and this selling pressure has kept investors on the sidelines, waiting for a stronger green light before they commit,” said Enmanuel Cardozo, a market analyst at asset tokenization platform Brickken.

According to Cardozo, institutional investment from firms such as Strategy and Tether could speed up Bitcoin’s traditional four-year halving cycle.

“We're seeing a faster cycle this time, likely due to the massive presence of Bitcoin ETFs and institutions in the market, scanning for the best entry point amid the mixed signals and volatility,” said Cardozo.

However, Bitcoin’s trajectory remains tied to broader monetary policy, the analyst added. He said a US Federal Reserve rate cut in May or June may “pump more money into the system and push Bitcoin up faster.”

The halving is a built-in feature of the Bitcoin network that serves to ensure Bitcoin’s scarcity, which is often regarded as one of BTC’s primary monetary characteristics.

ETFs and institutions may be fueling a faster cycle

Institutional adoption and Bitcoin exchange-traded funds (ETFs) may be contributing to a shorter market cycle, according to Vugar Usi Zade, chief operating officer at Bitget exchange.

Continued institutional buying, including by Bitcoin ETFs, coupled with Bitcoin’s increasing scarcity, may accelerate Bitcoin’s rise to new highs, he told Cointelegraph.

“With growing scarcity triggered by the halving, Bitcoin will likely retest its all-time high if it breaches the $90,000 mark in the coming weeks,” Usi Zade said. “While the halving offers a good basis for growth based on demand and scarcity, the timeline for impact on price can vary over time.”

He noted that Bitcoin’s growth remains closely tied to traditional financial markets and investor sentiment.

Bitcoin reached a new all-time high above $109,000 on Jan. 20, 273 days after the 2024 Bitcoin halving, signaling an accelerated market cycle.

In comparison, it took Bitcoin 546 days to reach an all-time high after the 2021 halving, and 518 days after the 2017 halving, according to data shared by popular crypto trader Jelle, in an April 8 X post.