Bitcoin’s recent halving, which was completed on April 19, may not have an immediate impact on market dynamics, with analysts suggesting we may have to wait around two months for any significant effects to be seen. Experts expect the supply-demand adjustment to be delayed despite the Bitcoin spot price rising 8% following the halving.
Analysts at QCP Capital say historical patterns indicate a delay of about two to three months before halving supply constraints translate into notable price movements. This suggests that Bitcoin bulls may have additional time to build larger long positions.
Bitfinex analysts emphasize that the reduced supply of Bitcoin after the halving could stabilize the price and potentially lead to further appreciation. However, they warn that geopolitical turmoil, especially in the Middle East, could impact Bitcoin’s long-term valuation.
Additionally, the Bitfinex Alpha report noted a potential stabilization of spot Bitcoin ETF demand, which has been an important driver of market activity. However, recent ETF outflows suggest a possible slowdown in demand.
Meanwhile, QCP Capital analysts expect altcoin and memecoin markets to remain under pressure in the near term. Continued negative funding in these markets, along with potential fluctuations in demand, may increase volatility.
The overall memecoin market has seen a slight increase in market capitalization, while top memecoins such as dogecoin, shiba inu, and dogwifhat have declined slightly over the past 24 hours, reflecting ongoing market fluctuations.
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