ChainCatcher message, since the beginning of 2024, Bitcoin transaction fees have shown a pattern of volatility, with significant spikes occurring around major events. The most notable surge happened in April, related to the Bitcoin halving event. During this period, transaction fees briefly soared to over 1,200 BTC, highlighting the increased demand on the network during this critical time. After the halving, fees tended to stabilize but remained relatively subdued, even as Bitcoin's price approached $60,000. This contrasts sharply with previous years, where fee spikes often reflected rapid price increases or network congestion.For instance, during the bull markets of 2017 and 2021, transaction fees surged alongside Bitcoin's price, reflecting intense activity and congestion on the network. The current trend is that, despite significant price fluctuations, fees remain low, indicating a mature network where transaction processing may be more efficient. As 2024 progresses, observing whether this decoupling of fees and Bitcoin prices persists can provide deeper insights into the evolving market trends and user behaviors within the ecosystem.

ChainCatcher message, CryptoQuant CEO Ki Young Ju posted data on social media stating that during the last Bitcoin halving cycle, the bull market surge began in the fourth quarter, and the whales will not allow the fourth quarter to perform poorly.

ChainCatcher message, CryptoQuant research director Julio Moreno stated: "After the Bitcoin halving, smaller miners are selling Bitcoin, while larger miners are accumulating Bitcoin. This aligns with the reports from large publicly listed mining companies: reserves are increasing, and some have even bought Bitcoin."

ChainCatcher news, Binance CEO Richard Teng posted on the X platform stating that the market is cyclical, and experiencing ups and downs is not uncommon. It is very important to focus on the long term when making investment decisions. Here’s a reminder that it has only been 3 months since the most recent Bitcoin halving. This is not financial advice, DYOR. At the end of the article, there is an image showing the Bitcoin price increase 6 to 12 months after each halving, including a 7043% increase one year after the 2012 halving, a 289% increase one year after the 2016 halving, and a 559% increase one year after the 2020 halving.

ChainCatcher message, according to on-chain information, the fourth Bitcoin halving block rare satoshis epic sats has once again inscribed the rune at block height 850,964, named REAL•EPIC•RUNE.It is reported that the total amount of this rune is 10 billion, fully pre-mined, and currently has not been distributed.

ChainCatcher news, according to Cointelegraph, BlocksBridge Consulting analyzed the financial gains of 12 publicly listed Bitcoin mining companies, of which 10 raised a total of $2 billion through equity financing activities. These companies raised $1.25 billion in Q4 2023.Marathon Digital, CleanSpark, and Riot Platforms were the companies that raised the most funds in the previous quarter, accounting for 73%. As of the end of March, the three companies held a total of $1.33 billion in cash and over 32,200 Bitcoins.Financing activities in Q2 2024 may decrease, as of May 15, investments in the stocks of major publicly listed Bitcoin mining companies were less than $500 million.

ChainCatcher news, 10x Research posted on the X platform stating that two months ago, 10x Research expressed the view that after the Bitcoin halving, the crypto market would enter a downturn rather than an upturn. Currently, some data indicators are confirming this judgment.From the beginning of this year to the halving (April 20), approximately $42 billion of liquidity flowed into the crypto market. However, since the halving, the inflow of stablecoins has seen almost zero growth, and the leverage ratio of Bitcoin futures has also significantly decreased.

ChainCatcher news, according to The Block, Deribit CEO Luuk Strijers stated that the positioning of Bitcoin options is consistent with the previous halving, with the market leaning bullish, and the pricing of call options is higher than that of put options expiring at the end of June 2024. Although Bitcoin prices have recently declined, the positive price impact takes time to materialize.Additionally, he emphasized that "the market has not turned bearish," and due to Bitcoin's sensitivity to the macroeconomic environment, this could create short-term downward pressure. High-risk assets like Bitcoin are closely related to macro events and turmoil, which will dominate the short-term scarcity effect of the halving.

ChainCatcher news, according to CoinDesk, analysts at the cryptocurrency exchange Bitfinex expect that the daily supply of newly minted Bitcoin (BTC) may drop to $30 million following the recent Bitcoin block reward halving. This figure is about one-fifth of the average daily inflow of spot ETFs.Analysts pointed out that as the daily issuance declines after the halving, the new market supply (newly mined BTC) is expected to decrease from the current $40-50 million to $30 million per day. In contrast, although net inflows into Bitcoin spot ETFs have slowed down in recent weeks and even turned into net outflows, their average daily net inflow still exceeds $150 million.Additionally, on-chain data shows that investors are increasingly holding their Bitcoin directly, which weakens the supply side of the market. Bitfinex analysts stated that outflows from Bitcoin exchanges have reached their highest level since January 2023, indicating that many investors are anticipating price increases and are moving their holdings to cold wallets.Currently, the trading price of Bitcoin is $66,660, having risen over 5% since the halving, contrary to market expectations of a price correction.

ChainCatcher news, Bernstein analysts indicate that with the launch of the token protocol Runes, Bitcoin is experiencing a moment similar to Ethereum's "DeFi summer" in 2020.On April 20, Bitcoin miners received over $100 million in rewards, with approximately $80 million coming from transaction fees alone. The fourth Bitcoin halving reduced the block subsidy reward for miners from 6.25 BTC to 3.125 BTC. Before the halving, Bitcoin miners received a total subsidy and transaction fee reward of about $6 to $70 million per day.However, according to data from Blockchain.com, despite miners receiving half the subsidy reward per block, this figure surged to $107.75 million on April 20. According to Glassnode data, about 75% ($80 million) of this came solely from transaction fees, setting a new historical high.

ChainCatcher news, CoinShares (CS) stated in a report on Friday that after the Bitcoin halving, cryptocurrency miners may turn to energy-secure areas for artificial intelligence due to potential higher revenues.CoinShares pointed out that mining companies such as BitDigital (BTBT), Hive (HIVE), and Hut 8 (HUT) have already generated income from artificial intelligence. Meanwhile, TeraWulf (WULF) and Core Scientific (CORZ) have existing artificial intelligence businesses or plans to develop in this field.

ChainCatcher news, the cryptocurrency research institution EMC Labs stated today that although the absolute number of Bitcoin's fourth halving is less than previous halvings, its actual proportion of effective circulation may exceed 30%, which will trigger a significant supply deflation effect in the next four-year cycle.According to EMC Labs' calculations, the absolute number of BTC in the fourth halving on April 20 is 164,000 coins/year, while the halving number four years ago was 328,000 coins/year. However, due to the reduction of BTC held by centralized exchanges, which determine BTC's short-term pricing power, from 3.06 million coins in the previous cycle to 2.29 million coins, the annual reduction accounts for 7% of short-term liquidity, which has not proportionally decreased compared to 10% in the previous cycle. The total reduction over four years accounts for 28% of short-term liquidity, and considering that the amount held by centralized exchanges will continue to decline, this figure may actually exceed 30%. Additionally, as the proportion of long-term holders has increased by 14% compared to four years ago, the combined effect of these two factors makes the supply deflation impact of this halving significant.EMC Labs stated that this halving has reduced BTC's annual inflation rate to 0.8%, and they believe that the pattern of a super bull market occurring within 18 months after the halving will reappear.

ChainCatcher news, on April 20, Bitcoin completed its fourth halving, and the third phase project Runestone & INDStone launched on the UXUY Marketplace and officially started trading, with INDStone opening at 400 USDT and Runestone opening at 4,830 USDT.It is reported that INDStone is the first derivative asset of $INDS (BRC-20). While ensuring that the total amount of INDS remains unchanged, part of the INDS will be migrated from BRC-20 to the Runes protocol, making INDS the first dual-protocol governance inscription in the Bitcoin Ordinals ecosystem, bridging BRC-20 and Runes.In addition, the launch of Runestone & INDStone marks the official opening of the Bitcoin Runes ecosystem by UXUY.

ChainCatcher news, according to CoinDesk, on-chain data shows that approximately 9 blocks after the Bitcoin halving, Runes miners have paid 78.6 BTC (about 4.95 million USD) in fees.