The history of price gains after each Bitcoin halving may be disrupted as the bull market came before this year’s event. Long-term holders will play a huge role in directional trading, says Glassnode. Bitcoin is still in overbought territory as JP Morgan warns about profit-taking despite the halving. Bitcoin spot ETF approval on January 10 gave a boost to its price and that of the general crypto market, sending the largest cryptocurrency to a new all-time high.
This also aligns with popular crypto analyst PlanB's stock-to-flow model, which predicts Bitcoin's price based on its scarcity. The analyst reiterated this in an X post on Sunday: Every halving period , there is a bull market in which bitcoin price pumps.
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