There are approximately 34 days remaining until the Bitcoin halving event, which will cut the issuance rate of Bitcoin in half. However, the cryptocurrency market has not yet priced in this reduction, according to Basile Maire, co-founder of D8X decentralized exchange and former executive director at UBS. In an exclusive interview with Cointelegraph, Maire stated that Bitcoin surpassed the $71,000 mark on March 11, just 37 days before the halving will decrease block rewards from 6.25 BTC per block to 3.125 BTC per block. He added that Bitcoin futures data indicates that people are expecting the price of Bitcoin to reach $100,000 by May. Maire also believes that the upcoming presidential election in the United States will have a significant impact on Bitcoin’s price trajectory, and it is expected to be a positive catalyst for the overall crypto market. Sergei Gorev, a risk manager at fintech platform YouHodler, mentioned that the inflows from U.S. spot Bitcoin exchange-traded funds (ETFs) have played a major role in driving Bitcoin to new highs, along with anticipation of the halving. On March 13, spot Bitcoin ETFs reached a total of $60.5 billion in on-chain holdings. If the inflows continue at the same rate as the past two weeks, Dune data projects that the Bitcoin ETFs will absorb 8.82% of the BTC supply on an annual basis. In related news, Grayscale has filed for a “mini” spot Bitcoin ETF.
D8X founder claims Bitcoin halving undervalued to its 'fullest extent'