Post-Halving: How have Bitcoin, cryptos, crypto stocks performed?

Bitcoin’s much-hyped “halving” has come and gone.

According to data from mempool.space and Blockchain.com, the “halving” occurred at 8:10PM New York time on Friday, April 19th.

This highly-awaited quadrennial  episode, which has historically occurred about once every 4 years, slashes the rewards for Bitcoin miners in half.

“Halvings” make new Bitcoins scarcer, and the limited incoming supply has historically pushed prices higher.

And since that intraday low on April 19th, Bitcoin has soared by over 12%.

The excitement surrounding Bitcoin’s latest "halving" has also helped push up other cryptocurrencies, as well as crypto-linked stocks.

Here’s how they’ve fared since the halving-eve (since US market close on April 17th):
 

Cryptocurrencies

• Chainlink: +17.8%
   
• Solana: +17.3%
   
• Cardano: +17.2%
   
• Avalanch: +14.3%
   
• Ripple: +11%
   
• Bitcoin Cash: +10.3%
   
• Polygon: +9.7%
   
• Dogecoin: +8.3%
   
• Ethereum: +7%
  
   

Crypto-linked stocks

• Stronghold Digital Mining: +53.6%
   
• Riot Platforms: +41%
   
• Cipher Mining: +33.3%
   
• Cleanspark: +28%
   
• Hut 8 Mining: +24%
   
• BIT Mining: +22.7%
   
• Marathon Digital: +20%
   
• Hive Blockchain: +13.1%
   
• Argo Blockchain: +6.7%
   
• Coinbase: +5.6%
   

However, back to Bitcoin itself …

Bitcoin’s 50-day simple moving average (SMA) now stands in the way of what’s widely expected within the crypto community to be the “OG crypto’s” next bull run.

As Bitcoin matures, and performs more in line with other "traditional" risk assets (e.g. global stocks), attentions now return to fundamental factors.

Bitcoin and other cryptos are set to sway in line with broader risk sentiment, with the Fed's policy outlook still in the driver's seat.

• In order for Bitcoin's next bull run to commence in earnest, risk-on sentiment has to remain intact.
   
• Otherwise, risk-off sentiment  may force Bitcoin and the broader cryptocurrencies complex to unwind recent gains.
  
  Such risk aversion could be triggered by another escalation in geopolitical tensions or ramped-up fears about higher-for-longer US interest rates,