Bitcoin's halving event, a programmed occurrence to control its supply and maintain scarcity, is nearing. Every four years, the rewards miners earn for securing the network halve, affecting the rate at which new bitcoins enter circulation. Despite expectations for an immediate price surge post-halving, historical data suggests that the real impact may take months to materialize.

This upcoming halving will reduce miner rewards from 6.25 to 3.125 BTC per block, lowering the rate of new bitcoin issuance. Simultaneously, there's anticipation for increased demand from both retail and institutional investors, potentially driving prices higher due to supply and demand dynamics.

Historically, bitcoin prices have soared to new highs several months after halving events. This trend is expected to continue, especially with the introduction of Bitcoin spot ETFs, which bring fresh demand into the market. However, recent data on Bitcoin ETFs' net outflows suggests some investor caution, with Grayscale's GBTC leading in outflow volume.

Bitcoin's price has repeatedly tested support levels around $61,000 to $62,000 since February, indicating investor interest in buying the dip before the halving. Despite this, technical indicators like the Relative Strength Index (RSI) paint a bearish picture, suggesting potential further downside.

While Bitcoin's short-term price outlook may be uncertain, its long-term performance remains compelling compared to traditional assets. Companies allocating a small percentage of their balance sheets to Bitcoin have seen significant yield increases, outpacing returns from traditional investment strategies. As Bitcoin's halving approaches, the debate over its ability to outperform traditional investments post-halving continues.