Part 3/9:
One of the most striking differences in this halving cycle is the advent of US-based spot Bitcoin ETF applications, which have significantly increased demand. Set to launch in January 2024, these ETFs could provide institutional investors on Wall Street with easier access to Bitcoin, boosting demand further.
Interestingly, Bitcoin has already reached an all-time high before the halving event, which deviates from past patterns where new highs typically materialized three or four months afterward. This early peak has created considerable excitement, with many market participants speculating that this cycle could be larger than previous ones, driven by newfound institutional interest.