Bitcoin Market Sustainability Analyzed Post-Halving by Bitfinex

By: Eva Baxter

With the dramatic changes in the cryptocurrency realm after the Bitcoin halving event, Bitfinex has provided an analysis that keeps investors hopeful, citing positive market dynamics of BTC in the post-halving phase. In spite of the unclear state of the U.S. economy, Bitfinex has examined blockchain data finding encouraging signs for Bitcoin, which was released in a report on April 22.

Bitcoin Market Trends Positive

The Hong Kong-based crypto platform reports that withdrawal of Bitcoin from the exchanges are at a rate unseen since January 2023, which indicates investors are moving assets into cold storage in expectation of a surge in prices. Bitfinex also notes that aggressive selling by long-term holders hasn't caused the familiar pre-halving price drop, suggesting new market participants are effectively absorbing the selling pressure, thus ensuring resilience in Bitcoin's market structure. The report further reveals the average daily net inflow from Bitcoin Exchange-Traded Funds (ETFs) to be $150 million; far exceeding the daily issuance of BTC at $30 to $40 million post-halving, which could potentially support further price appreciation.

New BTC Whales Outpace Old Whales

Post the fourth Bitcoin halving, blockchain data shows a significant increase in new Bitcoin whales. The initial investment by these new whales in Bitcoin has been reported to nearly double that of the prior whales combined, potentially influencing Bitcoin’s future trajectory and the cryptocurrency landscape at large.