This demand and the influx of capital into the Bitcoin network they brought have likely contributed to the fact that BTC has already broken its previous cycle’s ATH well before the having.
As we noted, however, the effect of the halving during this cycle will likely be diminished due to the introduction of new institutional demand from Bitcoin ETFs. This demand and the influx of capital into the Bitcoin network they brought have likely contributed to the fact that BTC has already broken its previous cycle’s ATH well before the having.