Photonews Logo Photonews logo
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Azad Jammu Kashmir
    • Balochistan
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
    IShowSpeed Daniel La Belle race
    Videos

    IShowSpeed Beats Daniel La Belle in 40-Meter Race, Hits 41M Subscribers

    June 24, 2025 2 Min Read
    Cardi B new single Outside
    Videos

    Cardi B’s ‘Outside’ Single Sparks Buzz Over Offset and Stefon Diggs

    June 20, 2025 2 Min Read
    Squid Game Season 3
    Videos

    Squid Game Season 3: Final Trailer Unveils Epic Plot

    June 14, 2025 2 Min Read
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Reading: Bitcoin Surges 5% Ahead of April Halving: ETF Slowdown Spurs Rally
PhotoNews Pakistan PhotoNews Pakistan
Font ResizerAa
Search
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Balochistan
    • Azad Jammu Kashmir
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Have an existing account? Sign In
Follow US
© 2022 Photonews. All Rights Reserved.
Bitcoin price drop 2025
PhotoNews Pakistan > Business > Bitcoin Surges 5% Ahead of April Halving: ETF Slowdown Spurs Rally
Business

Bitcoin Surges 5% Ahead of April Halving: ETF Slowdown Spurs Rally

Web Desk
By Web Desk Published February 10, 2024 3 Min Read
Share
Photo: Crypto News
SHARE

Bitcoin’s price surged by 5% on Friday, hitting a one-month peak. Analysts attribute this rise to intensified purchasing activity in anticipation of the April halving event and a slowdown in the outflow from exchange-traded funds (ETFs).

The cryptocurrency reached a high of $47,705 during the session, its highest since January. This surge followed regulators’ approval of the first U.S. spot bitcoin exchange-traded products.

Bitcoin has increased by 3.5%, reaching $46,946, and is on track for a 10% weekly gain, the most significant since October. Meanwhile, Ether has seen a 2.5% increase, reaching $2,486.

After peaking at just over $49,000 in January, a two-year high, Bitcoin experienced a downturn, affected by profit-taking following the Securities and Exchange Commission’s approval of ETFs.

Contrary to other markets, Bitcoin’s decline occurred as stocks, bonds, and gold rallied, driven by expectations that central banks globally would reduce interest rates. Despite initial support for this view, economic data suggests rate cuts are unlikely soon. However, risk assets, including stocks, have appreciated with Bitcoin’s recovery.

Analysts indicate Friday’s price jump results from slowed ETF outflows and increased buying before the April halving. Joshua Mahony of Scope Markets highlighted the anticipation surrounding the halving event in two months, which is expected to reduce the rate at which new bitcoins are generated.

The halving, set for April, aims to decrease the reward for mining new tokens by half, slowing Bitcoin’s supply increase. With 19 million capped 21 million bitcoins already mined, traders anticipate the event could lead to significant price increases, as seen in past cycles.

Historically, Bitcoin prices have soared following halvings. For instance, six months after the 2012 halving, the price rose from $12 to $126. Similarly, significant price jumps were observed after the 2016 and 2020 halvings.

Markus Thielen of 10x Research noted Bitcoin’s performance during U.S. election years, aligning with halving events.

ETF outflows, particularly from Grayscale Bitcoin ETF, have eased, supporting spot crypto prices. After converting its bitcoin trust into an ETF in January, Grayscale experienced substantial outflows, which have since decreased.

Despite the recent dollar strength impacting cryptocurrencies, Mahony expects this effect to diminish.

TAGGED:Bitcoin PriceCrypto CurrencyCrypto TodayFeatured
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Advertisement

HBL Saving Made Easy
HBL Saving Made Easy

Recent Posts

John Cena Nikki Bella 75 pages contract

John Cena’s 75-Page Cohabitation Contract with Nikki Bella

2024 Henley Passport Index

Pakistan Passport Ranking 2025: 96th on Henley Index with 32 Visa-Free Destinations

Imran Khan sons meeting with Richard Grenell

Imran Khan Sons Meet Richard Grenell, Launch Campaign for Khan’s Release

Post Archives

More Popular from Photonews

Gilgit Baltistan flood 2025
Gilgit - Baltistan

Gilgit Baltistan Flood: Rescue Operations Continue After Deadly Cloudburst Claims 3 Lives

3 Min Read
crypto theft in 2025
Tech

Crypto Theft Surpasses $2.17 Billion in 2025: Chainalysis Report Highlights

2 Min Read
Jyoti Maurya vs Alok Maurya alimony case
Pakistan

Jyoti Maurya Alimony Case: Alok Maurya Appeals to High Court for Maintenance

3 Min Read
Pakistan

Pakistan Secures $12.4 Billion in Foreign Loans for FY25, Up $2.6 Billion from FY24

Pakistan has secured $12.4 billion in foreign loans for the fiscal year 2024-2025, representing a $2.6…

July 23, 2025
Entertainment

Justin Bieber Drug Use Hints: Fans Express Concern After DMX Clip Repost

On July 21, 2025, Justin Bieber raised concerns among his fans with a social media post…

July 23, 2025
Business

Oil Prices Dip Amid US Trade Talks and EU Sanctions on Russian Energy

Oil prices dipped on July 21, 2025, following the first weekly decline of the month. Market…

July 22, 2025
Entertainment

Trump Predicts Kimmel and Fallon Cancellations After Colbert Feud

On July 22, 2025, U.S. President Donald Trump intensified his feud with late-night television hosts by…

July 22, 2025
PhotoNews Pakistan

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Categories

  • World
  • Pakistan
  • Punjab
  • Sindh
  • Khyber Pakhtunkhwa
  • Balochistan
  • Azad Jammu Kashmir

 

  • Top News
  • Business
  • Entertainment
  • Sports
  • Videos
  • Tech
  • Offbeat
  • Blog

© 2024 Phototnews
All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?