Bitcoin and Ethereum Experience 3% Increase Ahead of Impending Halving

Crypto News- After dipping to $63,000 over the weekend, Bitcoin has bounced back with a 3% gain to kick off the week. As of the latest update, the Bitcoin price stands at $66,964. Despite experiencing a 2.5% decline over the past week, BTC has still surged by 31% in the last month, fueled by bullish sentiment among traders.

Bitcoin and Ethereum Experience 3% Increase Ahead of Impending Halving

With less than a month remaining before the next Bitcoin halving, where the miner reward will be reduced from 6.25 to 3.125 BTC, anticipation is mounting. As of now, it’s projected to take place on April 19, according to NiceHash, although the exact date is subject to change. Halvings occur every 210,000 blocks and aren’t tied to specific calendar days, and block processing times can vary. The Bitcoin price has exhibited volatility in the past week, and this trend is expected to persist leading up to the halving, as investors reassess their pricing strategies.

Meanwhile, Ethereum has also seen positive momentum, recording a 2.6% gain over the last 24 hours. Currently priced at $3,452, ETH came close to dropping below $3,000 last week but has been steadily climbing since Sunday. Ethereum has witnessed a 17% price increase over the past month.

In regulatory news, the U.S. Securities and Exchange Commission (SEC) has once again postponed its decision on converting the Grayscale Ethereum Trust (ETHE) into a spot Ethereum ETF, extending the deadline to May 30. Executives eagerly awaiting updates on Ethereum ETFs are seeking optimism for the world’s second-largest cryptocurrency by market capitalization.