Bitcoin’s Post-Halving Performance: A Historical Anomaly
Bitcoin’s latest halving event in April 2024 has resulted in its weakest post-halving price performance to date. Despite reaching a new all-time high, the percentage gain lags significantly behind previous cycles. This article delves into the factors behind this muted growth and what it means for Bitcoin’s future.
Bitcoin’s Post-Halving Performance Falls Short of Historical Gains
Bitcoin’s quadrennial halving event, which occurred one year ago, has yielded its weakest post-halving price performance on record. While BTC reached a new all-time high following the April 2024 halving, the percentage gain lags significantly behind previous cycles.
Historical data shows Bitcoin typically surges after halvings due to reduced new coin issuance. This cycle’s muted growth, as analyzed by Kaiko, reflects macroeconomic headwinds constraining crypto markets. The divergence from past patterns underscores evolving market dynamics in the digital asset space.
Swiss National Bank Rejects Bitcoin Reserve, Maintains Conservative Strategy
The Swiss National Bank has firmly dismissed the idea of adding Bitcoin to its reserves, with President Martin Schlegel citing liquidity instability and extreme volatility as dealbreakers. While acknowledging Bitcoin’s occasional liquidity surges, Schlegel emphasized its unreliability during market crises—a critical failing for a reserve asset.
This decision strikes a blow to crypto advocates who argue central banks should embrace digital assets. The Bitcoin Initiative had proposed that even a 1% allocation could have nearly doubled SNB’s returns since 2015. Yet the bank remains unmoved, prioritizing stability over speculative gains.
Michael Saylor Predicts BlackRock’s IBIT Will Dominate ETF Market Within Decade
MicroStrategy Executive Chairman Michael Saylor forecasts BlackRock’s iShares Bitcoin Trust (IBIT) will become the world’s largest ETF within ten years. The spot Bitcoin ETF, launched alongside ten competitors in January 2024, already holds 2.77% of Bitcoin’s total supply according to Arkham Intelligence data.
BlackRock’s accelerating BTC accumulation signals institutional adoption at scale. While the $15.6 billion IBIT remains modest against the firm’s $10 trillion AUM, its rapid BTC acquisition pace - now representing nearly 3% of the 21 million supply cap - demonstrates strategic positioning in digital scarcity.
Bitcoin Developer Proposes Redefining Satoshi Unit to Simplify User Experience
John Carvalho, a CORE Bitcoin developer and CEO of Synonym, has reignited the debate around Bitcoin’s mass adoption challenges with a radical proposal: eliminate the satoshi unit and remove decimal points from Bitcoin transactions. The December 2024 Bitcoin Improvement Proposal (BIP) argues this change would reduce cognitive load for new users while combating unit bias—a psychological barrier where investors perceive assets priced in whole numbers as more valuable.
The move comes as the Bitcoin ecosystem grapples with scaling solutions, regulatory battles, and institutional onboarding. Carvalho’s approach targets UX friction at the most fundamental level—the way users conceptualize Bitcoin’s divisibility. Currently, 1 BTC equals 100 million satoshis, creating mental accounting hurdles for retail adopters accustomed to whole-unit transactions.
Bitcoin: 87% Of The Supply In Profit, Soon The Euphoric Phase?
Bitcoin’s ’Supply in Profit’ indicator has surged to 87%, signaling robust investor confidence. This metric, tracking unrealized gains across the circulating supply, historically precedes market euphoria when exceeding 90%—a threshold now within reach.
Glassnode data suggests the rally could accelerate if profit-taking remains subdued. However, excessive selling pressure may emerge as holders lock in gains, creating potential volatility. Traders are weighing whether this marks a cycle peak or the start of a parabolic advance.
