Bitcoin’s Halving Progress Sparks Market Anticipation

Root, a notable on-chain data and cycle analyst, recently shared that the progress toward the next Bitcoin halving has reached 61%. This announcement, made on the X platform alongside a screenshot, highlights a key milestone in the cryptocurrency’s timeline.

The Significance of Halving

Bitcoin halving occurs approximately every four years, reducing miners’ rewards for producing new blocks by half. During the last halving in April 2024, the block reward decreased from 6.25 BTC to 3.125 BTC. Anticipations are set for the next halving in 2028 when rewards are expected to fall to 1.5625 BTC. OKLink, a prominent blockchain data platform, estimates that this event will occur on April 13, 2028, with 109,012 blocks remaining until that date.

What Are Market Expectations?

The market’s outlook is generally positive as it looks toward the next halving. Coinbase CEO Brian Armstrong has highlighted Bitcoin’s tendency to experience upward trends preceding halving events. Over the coming years, Armstrong anticipates a favorable environment for Bitcoin’s growth.

Bitcoin has shown a 0.86% increase, trading at $86,099, according to CoinMarketCap data. The cryptocurrency tested levels not seen since early 2026, reaching $87,397. On the technical front, Bitcoin has overtaken all its long-term moving averages, which it had previously fallen below for nearly 300 days. Maintaining positions above these levels is crucial for continuing the long-term bullish trend.

Achieving a close above its 365-day moving average for the first time since March 2023, Bitcoin is following a key indicator used during major uptrends since 2019. The next resistance is anticipated between the $88,000 and $90,000 range.

ETF Inflow Intensifies

A notable influx of over $1 billion entered spot Bitcoin ETFs in a single day, marking the strongest daily inflow since October 2025. BlackRock’s IBIT fund led with $381 million, while ARK 21Shares and Fidelity’s funds each saw over $200 million.

• IBIT recorded the highest daily inflow with $381 million.
• Both ARK 21Shares and Fidelity’s FBTC experienced significant inflows exceeding $200 million.

Thanks to this latest increase, the average cost basis for Bitcoin ETF investors has once again fallen below Bitcoin’s price. With a current estimated cost base of $81,722 per coin, Bitcoin’s rise above this figure signals that investors have turned a profit for the first time since January.