Opinion: The "halving" has a limited impact on the market Brian Dixon, CEO of off the chain capital, an investment firm, said: "If we look at the overall demand for the ETF since its launch, it has caused a huge shock to the supply in the market. As soon as the halving takes place and the supply decreases further, it is logical that the price will rise. David Lawant, head of research at FalconX, said: "This rally is the first time that Bitcoin has broken through all-time highs before the halving, and there are concerns that ETFs have boosted demand ahead of time, and maybe we will hover at current levels for a while. Anthony Anderson, founder and CEO of Param Labs and Kiraverse, echoed the same sentiment: since the beginning of the year, Bitcoin ETFs have preempted the impact of the supply halving by massively acquiring BTC.