Bitcoin’s price action leading up to the upcoming halving is being influenced by financial institutions and “smart money,” according to a new analysis by market intelligence firm Glassnode. The report highlights that Bitcoin experienced significant price surges of 1,000% during its first halving, 200% during its second, and 600% during its third. The next halving is expected on April 19th, which will result in a 50% reduction in BTC miners’ rewards. Glassnode suggests that these historical patterns offer insights into potential market movements and investment strategies. However, this time, BTC’s price may experience volatility due to three factors. Firstly, heavy institutional involvement through ETFs adds complexity to the dynamics. Secondly, the activities of long-term investors and “smart money” entities are shifting. Lastly, sell-the-news effects surrounding the halving event should be taken into account. Traders are advised to make strategic adjustments to their positions to navigate expected volatility. Currently, Bitcoin is trading at $60,578, representing a 2.17% decrease in the last 24 hours.