According to @binance, Bitcoin’s first Halving took place in 2012, marking the inaugural 50% reduction in BTC’s block subsidy and setting a structural supply-tightening backdrop, source: @binance. The event occurred at block 210,000 on Nov 28, 2012, cutting the block reward from 50 BTC to 25 BTC and reducing new issuance from roughly 7,200 BTC/day to about 3,600 BTC/day based on 10-minute block intervals, source: Bitcoin.org; Blockchain.com explorer. For trading, this mechanically halves the flow of newly mined BTC that can reach spot markets, heightening focus on liquidity and miner behavior around issuance regime shifts, source: Bitcoin.org.

According to BitMEX Research, the significance of each Bitcoin halving event decreases over time, with the impact on supply inflation being less than half as important every four years. The research highlights that the ratio of subsidy cut to outstanding supply at each halving becomes progressively smaller, indicating that future halvings will have a reduced effect on Bitcoin's (BTC) price and overall market dynamics. This trend is critical for traders to monitor, as it may lead to less pronounced price volatility during future halving cycles (source: BitMEX Research).

According to @Andre_Dragosch, there is a significant chance that the traditional diminishing returns hypothesis for Bitcoin price cycles may not hold true in the current cycle. He cites that for the first time in Bitcoin’s history, 2024 has seen demand-side factors such as adoption outweighing traditional supply-side events like the halving. This shift in market dynamics could impact trader strategies, as increased adoption may drive greater volatility and price potential compared to prior cycles (Source: @Andre_Dragosch on Twitter).

According to Kekalf, The Vawlent (@NFT5lut), references to 'Halves and May' draw attention to the historical correlation between Bitcoin halving events and significant price movements in May, a pattern closely watched by traders for timing entries and exits. Historical data indicates that previous Bitcoin halvings have often led to increased price volatility and trading volumes, especially in the months following the event (source: Glassnode On-chain Analysis, May 2024). Traders are monitoring this May 2025 cycle for potential bullish momentum, with the expectation that post-halving supply reductions could impact Bitcoin and altcoin prices, influencing crypto trading strategies across major exchanges (source: CryptoQuant, April 2024).