Bitcoin Price Rallies Ahead of Mid-April Halving Event, But Macro Factors Also in Play

Bitcoin has historically rallied going into and after previous halving events, where mining rewards are cut in half. The next halving is expected mid-April.

Coinbase said macro factors and other non-crypto influences also impact bitcoin's price, not just the halving event.

Bitcoin's recent rally was more influenced by prospects of spot bitcoin ETFs than the upcoming halving.

The amount of bitcoin held by long-term holders is quite high historically, and they are less likely to sell after the halving.

The Fed is expected to start cutting rates in May, which is positive for risk assets like bitcoin.