"Anticipating Bitcoin's Halving: Impacts and Opportunities Ahead"

Coinbase's research report suggests that historical precedent indicates a potential positive impact on Bitcoin's performance before and after the upcoming halving event, which is expected in mid-April, due to reduced supply of new BTC. However, the report also emphasizes the influence of non-crypto factors such as macroeconomic conditions on Bitcoin's price. It notes that the recent rally in Bitcoin was driven more by excitement over the prospects of spot Bitcoin exchange-traded funds (ETFs) than by the halving. Additionally, the report highlights the high amount of Bitcoin held by long-term holders and the potential impact of U.S. Federal Reserve's monetary policy on risk assets.