The news about Bitcoin Halving has sparked interest and concern in the cryptocurrency community. This event has historically led to rises in Bitcoin prices, but the recent surge that drove BTC to $73,000 in March has introduced new uncertainties.

Kris Marszalek, the CEO of Crypto.com, shared his insights in a recent Bloomberg Television interview. He acknowledged the importance of Halving in Bitcoin's long-term price growth but also warned about possible short-term selloffs. He mentioned that these selloffs are part of the "buy-the-rumor, sell-the-news" pattern commonly seen in financial markets. Despite these short-term concerns, Marszalek remains optimistic about the positive long-term impact of Bitcoin Halving.

The upcoming Bitcoin Halving event, scheduled for later this week, will reduce miners' rewards from 900 to 450 Bitcoin per day. This change is expected to transform the crypto mining landscape, with miners vying for smaller rewards. Over time, this event is likely to push Bitcoin prices higher.

However, in the immediate aftermath, there may be short-term market volatility driven by speculation and trading sentiments. This volatility underscores the complex nature of the crypto market, where short-term fluctuations coexist with long-term growth prospects.

While Marszalek has expressed caution, some analysts believe that the recent drop in BTC price is a preliminary retracement before the Halving event. They suggest that this market correction is part of a broader trend and is not solely influenced by potential selloffs. Additionally, the recent approval of Bitcoin and Ethereum ETFs in Hong Kong has bolstered market sentiment.