币界网报道：Bitcoin Halving Completed: Fourth Supply Reduction Marks New Era for BTC The fourth Bitcoin halving occurred at block height 840,000 on April 20, 2024, slashing miner rewards from 6.25 BTC to 3.125 BTC per block. This programmed supply shock, occurring roughly every four years, reinforces Bitcoin's deflationary model by permanently reducing its inflation rate below 1% - now lower than gold's estimated 1.6% annual supply growth. While past halvings (2012, 2016, 2020) preceded major bull runs, analysts caution that macroeconomic factors like Fed policy and institutional ETF flows may now play larger roles in price action. Major mining firms had prepared by upgrading equipment and hedging strategies, though smaller operations face profitability challenges with breakeven estimates near $75,000/BTC at current difficulty. The event coincided with renewed network congestion, driving average transaction fees above $40 as users rushed to inscribe rare satoshis from the first post-halving block. With 94% of Bitcoin's 21 million supply already mined, the next halving in 2028 will see rewards drop to 1.5625 BTC, further tightening new supply to just 0.4% annual issuance.