Bitcoin Halving a "Sell the News" Event? - Cryptocurrency prices fall

Bitcoin halving event becomes a "Sell the News" event. On a large scale, crypto prices are falling. Some altcoins are particularly hard hit.

In the past 24 hours, total market capitalization has fallen 5.17 percent. The long-awaited crypto bullrun remains out for now.

The crypto leading currency Bitcoin is trading at $59,860 at the time of writing and has lost 5.37 percent compared to the previous day. Over the past seven days, the BTC price has fallen a total of 10.23 percent.

The Bitcoin halving event seems to be increasingly becoming a "Sell the News" event. After the halving of the block grant that takes place once every four years, the BTC exchange rate appears to be weak, pulling down the entire crypto market.

Even bigger price drops can be seen in some popular altcoins. Stacks in particular is suffering and is at the bottom of the crypto market with a minus of 18.1 percent. STX is currently trading at $1.98.

Ethena, Neo, Helium and Sei, among others, also lost by double digits in percentage. In contrast, only a few cryptocurrencies showed marginal gains. At the top is Cosmos with a plus of 3.86 percent from the previous day. This is not the first time the crypto market has weakened after the halfway mark. Whether prices will continue to fall in May or still rise.