Why Didn’t Bitcoin Price Go Up Despite Halving? What’s Suppressing the Price? Analyst Explained

The highly anticipated Bitcoin halving event, which took place last Saturday, did not lead to the expected increase in the price of Bitcoin. Contrary to predictions of a price increase due to a supply squeeze, BTC dropped over 7% last week, according to data.

However, Nansen.ai Chief Research Analyst Aurelie Barthere suggests that the recent price correction is a reflection of the broader macroeconomic environment rather than a sell-off triggered by the halving event:

“The correction we are witnessing is macro driven and is also seen in US technology stocks. “This is a combination of a repricing in US interest rates and the beginning of technology gains that are disappointing investors’ expectations.”

Interestingly, Barthere highlighted that historically the 250-day period following each halving event has been the strongest period for Bitcoin returns. This 250-day period was evaluated compared to the 115-day period before the halving and the non-halving years. As a result, the analyst claims that there is hope for a bull in Bitcoin after the halving period.

BTC price is trading at $63,484 at the time of writing this article.

*This is not investment advice.

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