Bitcoin's progress toward its next halving has reached 61 percent.

On Sept. 22 local time, blockchain media outlet U.Today reported that on-chain and cycle analyst Rekt said on X, formerly Twitter, that "the bitcoin halving is steadily approaching" and that the "halving progress" was 61 percent.

Bitcoin halving takes place about once every four years and is designed to cut new block mining rewards in half. The most recent halving took place in April 2024, when the mining reward fell to 3.125 BTC from 6.25 BTC. At the next halving, the reward is expected to be cut again to 1.5625 BTC.

The schedule is also becoming relatively specific. OKLink presented April 13, 2028, as the expected date of the next bitcoin halving. The number of blocks remaining until the halving is 109,012. Since the halving itself is an event that slows the pace of supply growth, the market typically accepts it as a variable in medium- to long-term price trends.

Actual market expectations are also aligning with the halving. Coinbase Chief Executive Brian Armstrong said there is a tendency for the bitcoin price to move first ahead of the next halving and that "we tend to see an uptrend before that." He also said the next 1 to 2 years would be good for bitcoin.

Price action has also coincided with those expectations. Based on CoinMarketCap, bitcoin traded at $86,099, up 0.86 percent from 24 hours earlier. During the session it rose as high as $87,397, the highest level since late January 2026.

Technical indicators also showed a change. Bitcoin moved back above all of its long-term moving averages. It had remained below these indicators for about 300 days, but the recent trend reversed. In particular, bitcoin closed above its 365-day moving average for the first time since March 2023. The line has served as a signal line in every bull market since 2019, and the next resistance range was presented as $88,000 to $90,000.

Fund flows also supported the bullish side. Bitcoin ETFs saw more than $1 billion in inflows in a day. It was the largest single-day inflow since October 2025. BlackRock's IBIT led with $381 million, while Ark 21Shares Bitcoin ETF ARKB and Fidelity's FBTC also each topped $200 million.

As a result, whether ETF investors have returned to profit has also drawn attention. With the recent bitcoin rebound, the average ETF holder returned to unrealised gains for the first time since January. The estimated average purchase price was presented as $81,722 per coin.

With halving progress surpassing 60 percent, prices recovering long-term moving averages and large ETF inflows, the market is watching whether bitcoin can sustain its current uptrend until the next halving.