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Bitcoin’s latest halving event, when miners’ block subsidy reward is cut from 6.25 BTC to 3.125 BTC, is estimated to occur around 9 p.m. ET today.We asked several firms in the industry what impact Bitcoin’s fourth halving could have on the price of the cryptocurrency going forward.
The traditional financial giant predicts a slump in Bitcoin price following the halving.
Bitcoin’s halving event is currently estimated to occur at around 8:30 p.m. ET today. We asked several firms in the industry what impact Bitcoin’s fourth halving will have on miners as the block subsidy reward gets cut from 6.25 BTC to 3.125 BTC.
Bitcoin proponents argue the halving could have a big impact through the reduction of new supply. However, some say that this will have a minimal effect that will only impact some miners.
Market volatility has resulted in over $152 million in cryptocurrency liquidations over the past day.
- 19:48US Bitcoin ETFs Net Inflows 789 BTC, Ether ETFs Net Inflows 13 ETH on 28 NovemberUpdated data on the X platform shows a net inflow of 789 BTC ($75.14 million) into the U.S. Bitcoin ETF and a net inflow of 13 ETH ($47.5 million) into the Ether ETF on 28 November.
- 19:47Capitol Macro: German, Spanish inflation data provide room for ECB to accelerate rate cutsInflation data from Germany and Spain mean the European Central Bank could accelerate the pace of rate cuts in December, said Andrew Kenningham, an economist at Capital Macro, in a report. German inflation held steady at 2.4 per cent in November, while Spanish inflation climbed to 2.4 per cent from 1.8 per cent in October.Kenningham said the data so far suggests that Capitol Macro's expectations that eurozone inflation would rise to 2.2 per cent in November, from 2.0 per cent in October, were too high. He added that given that the risk of inflation picking up again is diminishing and the risk of a prolonged period of stagnant growth is increasing, this provides a strong case for the ECB to accelerate the pace of interest rate cuts in December, raising its rate cut estimate to 50 basis points from 25 basis points.
- 19:46EtherDevs: AllCoreDevs Preliminary Consensus to Increase Blob Target/Max from 3/6 to 6/9Terence, an Ethernet protocol developer and Prysm maintainer, posted on the X platform that the AllCoreDevs meeting reached a preliminary consensus to raise the blob target/max from 3/6 to 6/9, with implementation subject to further testing and development of the network's results.
