Goldman Sachs Warns Against Overemphasizing Bitcoin's Halving, Cites Macro Factors

Goldman Sachs has cautioned against reading too much into the past halving cycles of Bitcoin, stating that macroeconomic factors played a role in previous bull runs. The investment bank believes that continued gains in BTC may depend on strong inflows into spot ETFs. While the crypto community is confident that history will repeat itself, Goldman Sachs warns that caution should be taken against extrapolating the past cycles and the impact of halving, given the current macro conditions. The medium-term outlook for BTC depends on the uptake of ETFs and the supply-demand dynamic, according to Goldman Sachs.