I just checked the Bitcoin data and something interesting is happening. We are already halfway through the current halving cycle, the block reward dropped to 3.125 BTC, and inflation is below 1%. The price is hovering around $76,600 now, recovering quite a bit from that recent low of $60,000.

The curious thing is that compared to previous cycles, this halving isn't generating the same hype in price. We've gone up about 15% since the 2024 halving, which is much less dramatic than before. I guess it's because the market is maturing and there's less extreme volatility as more people participate. The all-time high remains that $126,000 we reached in 2025.

Traders are watching a key level: if the price breaks above $75,500, there are roughly $200 million in short positions that could be liquidated, which would add upward pressure. Meanwhile, this halving cycle is expected to end in 2028, so there's still quite a journey ahead.