The cut and its impact on bitcoin

Bitcoin today is still holding strong in its support area,,, according to my estimates it is possible that the current price will not break through the previous support, if I'm not mistaken, maybe this support is difficult to break,, I am very sure that Bitcoin will continue its upward trend, and there is also a possibility that it will break through the previous resistance.

Previously I found an article that explained about bitcoin cuts and their impact, in the article it was explained that in general bitcoin will cut part of the rate of creating new BTC, this will result in a scarcity of BTC, with this scarcity the thing we most often find is that it becomes increasingly rare an item makes it more difficult for people to sell it, of course this will trigger an increase in the price of bitcoin.

However, Glassnode analysis suggests a possible change in this pattern. The report highlights the important role of ETFs in Bitcoin's supply and demand dynamics, suggesting that their influence can dampen the bullish effect triggered by Bitcoin's halving.

The enormous purchasing power of ETFs can offset the effects of traditional supply shocks from halving expectations, explained Glassnode in a report reported by Bitcoin News.

This highlights the need for traders to consider the historical impact of halvings against the modern impact of ETFs on Bitcoin price availability and volatility.