Bitcoin Hits Halving Midpoint as Gains Lag

Bitcoin has crossed the midpoint of the April 2024–April 2028 halving cycle (about 50.01% complete), yet price gains have been muted versus prior cycles. Since the April 2024 halving BTC has risen roughly 15%—far below historic mid-cycle surges—while miner issuance fell from 6.25 to 3.125 BTC per block and annual inflation sits below 1%. The article argues this reflects market maturation: deeper liquidity, institutional participation and lower volatility mean supply shocks produce smaller percentage moves even if large absolute capital is required to move prices. The halving remains a fundamental bullish anchor for scarcity, but its market impact is being filtered through steadier, less reflexive flows, implying slower, more durable appreciation rather than rapid speculative rallies.