BTC Price 75 Days After the Halving
Bitcoin’s fourth halving occurred on April 20, reducing miner rewards from 12.5 BTC to 6.25 BTC. The market impact has mirrored previous cycles. Many miners sold BTC in May due to reduced rewards and declining fees. Currently, BTC trades below its April 20 price, having fluctuated throughout the quarter. Similar fluctuations occurred after the 2016 halving, but BTC had rebounded higher after 75 days. Continued price pressure could further impact miners and weigh on the market in the coming months.
Average Bitcoin Fees Fall After Ordinals Spike
Bitcoin miners faced pressure following the fourth halving. Although daily average network fees rose to record highs with the launch of Ordinals on April 20, the surge was short-lived. Fees have steadily fallen since then, despite one spike. This decline, combined with lower block rewards, has led to forced selling from Bitcoin miners.
