Bitfinex predicts that the halving of Bitcoin mining rewards may lead to a fivefold increase in demand. Analysts estimate that the daily increase in supply may drop to below 30 million US dollars. Despite the tightening supply, the daily net inflow of BTC ETF exceeds 150 million US dollars remains unchanged. The U.S. Securities and Exchange Commission has approved the country's Bitcoin spot ETF, paving the way for new demand. On-chain data shows that since the halving event, many investors are transferring their holdings to cold storage, leading to a weakening of the market supply side.

Market analysis:

BTC: Looking at the 4-hour chart, the price continues to stay above the middle track of the Bollinger Bands, and the trend remains healthy.

On the daily chart, the price is still suppressed by the moving average, and a breakthrough is needed for better market space.

In summary, the support level is 65800, and the resistance level is 66300.

ETH: Looking at the 4-hour chart, the price continues to stay above the middle track of the Bollinger Bands, and the trend remains healthy, with the support level at 3160 and the resistance level at 3190.

LTC: The price continues to oscillate near the middle track of the Bollinger Bands, and the market continues to be dominated by oscillations, with the support level at 83 and the resistance level at 85.

BCH: The price continues to oscillate near the middle track of the Bollinger Bands, with a fluctuating trend, and the support level at 490 and the resistance level at 520.

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