Bitcoin (BTC) price is going through a consolidation phase following the historic April 2024 halving. Although the cut in the miner’s reward did not generate an immediate parabolic surge, analysts interpret this move as a solid foundation for the next bull cycle.
Key factors driving the current narrative:
Institutional Demand: The approval and success of spot Bitcoin ETFs in the U.S. continue to attract institutional capital, showing that BTC is consolidating as a major asset class.