The halving frenzy was in full swing for BTC and cryptocurrencies in general during the past week. The event was in the spotlight even in mainstream investment channels. Past halving events were followed by important price increases over time. This and fundamentals related reasons like decreasing BTC inflation led some to think that the halving could have been a catalyst for a rally of BTC price. That could still very well be the road, but it does look like some more time will be needed.

The last seven days were the days of the halving for BTC: the market obviously waited for the event and was hugely conditioned by it. Investors hoping for an acceleration of the uptrend going on for weeks were, however, disappointed. Small projects overperformed the field once again but were just marginally positive, with Mid-cap lagging and Top projects falling behind.

While Bitcoin is nearing 10,000 USD, we have a look at two technical indicators: RSI and MACD. BTC’s RSI is currently over 70, and therefore signaling an overbought situation. MACD is showing a positive and supportive setting. We will have an in depth look at all major projects technical settings in tomorrow’s Weekly Crypto Report.

With less than 10 days to the much anticipated halving event, Bitcoin clearly overperformed the rest of our sectors during the past seven days. BTC crossed the 9000 USD mark on April 30th after crossing the 8000 USD mark on April 29th. It reached a high of 9460 USD and then fell back under 9000 USD after facing the resistance line coming from the all time high price and passing through the relative peak levels.