What is Bitcoin halving and why does it move the price

Bitcoin halving is a protocol‑level event that occurs roughly every 210,000 blocks (about four years) and cuts the miner block reward — and therefore new Bitcoin issuance — in half. By sharply reducing the flow of new supply while demand can remain steady or grow, halvings tend to create upward price pressure over time, and they also trigger speculative positioning ahead of and after the event. The immediate implication is increased scarcity that supports a long‑term bullish case, though the halving can also produce short‑term volatility, miner revenue stress and temporary hash‑rate adjustments.