币界网报道：The bitcoin halving event happens every four years to slow down the generation of new bitcoins and extend the production schedule to 2140. It is essential to maintain the scarcity and value of bitcoin. The upcoming fourth halving will reduce the reward to 3.125 BTC. This affects miners' incentive levels and profitability, so they must explore new sources of income such as hardware efficiency upgrades, innovative profit channels, moving to low-electricity regions, or participating in decentralized finance initiatives. Market sentiment, adoption trends, supply relationships, and macroeconomic factors also impact the price after halving. The launch of spot bitcoin ETFs is reshaping the market dynamics of bitcoin by providing institutions and retail investors with a more organized and accessible way to participate in bitcoin.