According to Grayscale, Bitcoin ETFs can fundamentally change the cryptocurrency’s demand-supply ratio, counterbalancing the halving’s sell pressure.
Fundamental changes to Bitcoin’s demand-supply equation are likely to have a greater impact on the cryptocurrency prices following the upcoming halving, according to an analysis from asset manager Grayscale.
Historically, periods of price appreciation have followed halving events. However, a new factor will also impact Bitcoin (BTC) performance for this April’s halving: exchange-traded funds (ETFs).
“Beyond generally positive onchain fundamentals, Bitcoin’s market structure looks beneficial to price post-halving,” says the report.
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Source: https://cointelegraph.com/news/bitcoin-market-beneficial-price-post-halving-grayscale