Bitcoin holders are celebrating one year since the 2024 Bitcoin halving by praising BTC’s resilience amid a global trade war and suggesting an accelerated market cycle due to a growing institutional presence.
The 2024 Bitcoin halving reduced block rewards from 6.25 Bitcoin (BTC) to 3.125 BTC, slashing new BTC issuance in half.
Despite rising concerns over a global trade war and escalating tariff tensions between the United States and China, BTC has climbed more than 33% since April 2024, Cointelegraph Markets Pro data shows.
“So, even though Bitcoin’s showing resilience, I think the mix of past experiences, economic uncertainty, and this selling pressure is keeping investors on the sidelines, waiting for a stronger green light before they jump in,” said Enmanuel Cardozo, a market analyst at asset tokenization platform Brickken.
Cardozo added that institutional investment from firms such as Strategy and Tether could speed up Bitcoin’s traditional four-year halving cycle. He added:
“For the 2024 halving in May, that puts the bottom around Q3 this year and a peak mid-2026, but I think we might see things move it a bit sooner because the market’s more mature now with more liquidity.”
However, Bitcoin’s trajectory remains tied to broader monetary policy, the analyst added. He said a US Federal Reserve rate cut in May or June may “pump more money into the system and push Bitcoin up faster.”
The halving is a built-in feature of the Bitcoin network that assures Bitcoin’s scarcity, which is considered one of BTC’s defining monetary characteristics.
Related: Crypto, stocks enter ‘new phase of trade war’ as US-China tensions rise
ETFs and institutions fuel faster cycle
Institutional adoption and Bitcoin exchange-traded funds (ETFs) may be contributing to a shorter market cycle, according to Vugar Usi Zade, chief operating officer at Bitget exchange.
Continued institutional buying, including by Bitcoin ETFs, paired with Bitcoin’s rising scarcity, may accelerate Bitcoin’s rise to new highs, he told Cointelegraph.
“With growing scarcity triggered by the halving, Bitcoin will likely retest its all-time high if it breaches the $90,000 mark in the coming weeks,” Usi Zade said. “While the halving offers a good basis for growth based on demand and scarcity, the timeline for impact on price can vary over time.”
He noted that Bitcoin’s growth remains closely tied to traditional financial markets and investor sentiment.
Related: Bitcoin speculative appetite declines as investors seek safety
Bitcoin reached a new all-time high above $109,000 on Jan. 20, 273 days after the 2024 Bitcoin halving, signaling an accelerated market cycle.
In comparison, it took Bitcoin 546 days to reach an all-time high after the 2021 halving, and 518 days after the 2017 halving, according to data shared by popular crypto trader Jelle, in an April 8 X post.
Magazine: Bitcoin’s odds of June highs, SOL’s $485M outflows, and more: Hodler’s Digest, March 2 – 8
US Defence Secretary Pete Hegseth has been linked to a second group chat about sensitive military operations, which he reportedly shared with his wife, brother and personal lawyer.
The messages sent via the Signal messaging app are again understood to have contained details of an attack on Yemen’s Iran-aligned Houthis in March.
The second chat group, initially reported by The New York Times, included about a dozen people. It revealed details of the schedule of the airstrikes, according to the Reuters news agency.
Two sources with knowledge of the matter told Sky News’ US partner network NBC News there were 13 people in the second chat group, and Mr Hegseth divulged the information despite an aide warning him about using an unsecure communications system.
Mr Hegseth’s wife, Jennifer, a former Fox News producer, has attended sensitive meetings with foreign military counterparts, while his brother was hired at the Pentagon as a Department of Homeland Security liaison and senior adviser.
Military details from the first chat group were revealed by a journalist from The Atlantic magazine who was accidentally added to the Signal app by national security adviser Mike Waltz.
Mr Hegseth then shared sensitive information with cabinet officials about last month’s airstrike on targets in Yemen, which was later leaked.
Read more from Sky News:
What is Signal?
Who is Pete Hegseth?
Mike Waltz (left) and Pete Hegseth (right) have used Signal to discuss sensitive government matters. Pic: AP
‘A non-story,’ says White House
But the White House has consistently defended Mr Hegseth.
Donald Trump dismissed the original leak as “something that can happen”.
Responding to the latest chat group, White House deputy press secretary Anna Kelly said: “No matter how many times the legacy media tries to resurrect the same non-story, they can’t change the fact that no classified information was shared.
“Recently-fired ‘leakers’ are continuing to misrepresent the truth to soothe their shattered egos and undermine the President’s agenda, but the administration will continue to hold them accountable.”
The “leakers” referred to in the White House statement are four senior officials who were ousted from the Pentagon last week as part of an internal leak investigation.
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Leaked war plans: ‘Fairly serious’
‘Hegseth put lives at risk’
The New York Times reported that the second chat – named “Defence | Team Huddle” – was created on Mr Hegseth’s private phone.
It detailed the same warplane launch times as the first chat.
Several former and current officials have said sharing those operational details before a strike would have certainly been classified, and their release could have put pilots in danger.
Democratic politicians have repeatedly called for Mr Hegseth to step down.
“We keep learning how Pete Hegseth put lives at risk,” Senate minority leader Chuck Schumer said in a post on X.
“But [Donald] Trump is still too weak to fire him. Pete Hegseth must be fired.”
The latest claims about Mr Hegseth emerged as Yemen’s Houthi rebels reported another wave of US airstrikes on Sunday, including on the capital Sanaa.
The Houthis said at least 12 people had been killed, with 30 more injured.
The US says its bombing campaign is in response to Houthi attacks on Red Sea shipping lanes.
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