Bitcoin Post-2024 Halving: Supply Shock, Miner Economics, and Market Maturation

The 2024 Bitcoin halving, reducing daily issuance to 450 BTC and annual inflation to ~0.83-0.9%, has structurally altered Bitcoin's supply mechanics, making it scarcer than gold on a flow basis. While the immediate "supply shock" on price was more muted than in previous cycles due to pre-halving ATHs and significant institutional demand, the halving has profoundly impacted miner economics, driving efficiency and diversification, and is manifesting a more mature, institutionally-anchored market less prone to extreme boom-bust cycles.