Analyst Says More Upside Likely in Bitcoin with Expected Critical Development

The senior analyst of the cryptocurrency market stated that with the halving, there could be a new form of spot Bitcoin ETF wind. Analysts led by Michael Graham at Canaccord Genuity focused on the correlation with Bitcoin halving and spot ETFs. Analysts pointed out that the halving in mid-April could create an interesting correlation with spot Bitcoin ETF flow, bringing up a short-term drop and then a massive rise. The details of the statement highlighted the uncertain atmosphere created in the market by the expected interest rate cut by the US, and emphasized the upward trend in the cryptocurrency market: While the timing of the macro view and potential interest rate cuts remains uncertain, the upcoming halving event could increase the headwinds for Bitcoin ETF. Activity levels for the rest of the ecosystem continue to recover from the lowest level of 2023.