TechFlow news, Matrixport released a new report stating that halving events have never marked the peak of cycles, and Bitcoin's rebound may just be beginning.
The report stated: "Although the halving is approaching (April 19/20, 2024), halvings have never been cycle tops. On the contrary, the halving means mining rewards are cut in half, indicating that the Bitcoin bull market is only halfway through. Admittedly, leverage is currently high, with positions and funding rates excessively expanded, but in the short term, the upward momentum could still persist.
We are in the midst of a Bitcoin bull market, and the key now is to maintain exposure (long positions) until this rally eventually follows a parabolic trajectory and collapses under its own pressure.
Crypto bull markets tend to remain overbought for much longer than traders expect, and when prices should correct, overbought signals often attract more buyers rather than revert to the mean, causing prices to rise parabolically. According to Matrixport's model on Tether's impact on Bitcoin prices, an estimated $10–20 billion inflow into ETFs could significantly affect Bitcoin’s price. It is estimated that every additional $5 billion in capital inflows could increase Bitcoin’s price by 15%.
Furthermore, the shift in asset allocation from gold ETFs to Bitcoin spot ETFs may still be in its early stages."
