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The Bitfinex’s observation can be interpreted to mean that the fluctuations in Bitcoin’s price following the recent halving event have not yet stabilized. Halving refers to the reduction in the reward for mining new blocks on the blockchain, which in turn reduces the rate at which new Bitcoins are created. This event is significant because it tends to induce volatility in the market as participants speculate on its implications. Climbing or dropping rapidly post-halving, the price of Bitcoin eventually balances out and consolidates over time. This consensus appears to say that Bitcoin’s price has not yet found its new equilibrium point and can still experience significant volatility, thus the post-halving price consolidation isn’t over yet.
