Leading analysts widely anticipate a potential decline in Bitcoin's price following the imminent halving event, set to take place around April 20th. This significant event reduces the mining reward for each Bitcoin block from 6.25 BTC to 3.125 BTC. Arthur Hayes, Benjamin Cowen, and Peter Brandt share the perspective that this halving could lead to a short-term downturn in Bitcoin's value.

Arthur Hayes challenges the conventional belief that halving events positively impact cryptocurrency prices. He offers a nuanced view, suggesting that when market sentiment strongly favors one outcome, the opposite often occurs, leading him to predict a price decline around the halving event.

This analysis considers broader economic factors. Hayes highlights tightening dollar liquidity and the impending Quantitative Tightening (QT) initiated by the Federal Reserve, which will contract the money supply. These factors could create a turbulent environment for high-risk assets by the end of April. However, he forecasts a potential market upturn after May, following a Federal Reserve meeting that could inject liquidity.

Benjamin Cowen supports Hayes' projection with a cautious outlook, referencing past trends such as the 20% market correction following the approval of spot-Bitcoin ETFs in January. Similarly, veteran analyst Peter Brandt emphasizes the consistency of trends, lending credibility to the possibility of ongoing patterns in Bitcoin's bullish markets.