Onchain Highlights
DEFINITION:ย Bitcoin price performance since halving cycles
Bitcoin’s price trajectory across its five halving epochs highlights the influence of supply shocks on long-term market behavior.
Epoch 1, where block rewards were 50 BTC, saw exponential growth, setting an early benchmark for the asset’s potential. Subsequent epochs, particularly Epoch 2 (25 BTC) and Epoch 3 (12.5 BTC), also experienced significant rallies, peaking at progressively higher levels before entering periods of consolidation.
Notably, Epoch 4 (6.25 BTC) displayed more subdued price action, reflecting a maturing market with increased liquidity and institutional participation. As Bitcoin enters Epoch 5 (3.125 BTC), the price appears to be stabilizing within a narrower range compared to previous cycles, suggesting a possible transition to lower volatility.
However, historical patterns indicate that a major price breakout could still be on the horizon as the supply reduction continues to exert upward pressure over time. The comparison of these epochs highlights the evolving nature of Bitcoin’s market responses to its programmed scarcity.