According to mempool.space, the Bitcoin network is currently more than halfway through its current halving cycle (50.01%), with the next halving expected in just under two years, on April 12, 2028.
This cycle, known as “Epoch 5”, will begin in April 2024 and continue until 2028.
Halvings occur every 210,000 blocks, approximately every four years, and miners receive a 50% reduction in rewards.
This process controls the issuance of Bitcoin and ensures a predictable decline in the inflation rate (currently less than 1%). In the current epoch, the block subsidy is 3.125. $BTC block by block. On average, approximately 450 blocks are mined every 10 minutes. $BTC Published daily.
This 10-minute schedule is maintained by difficulty adjustments made every 2,016 blocks. The network increases or decreases mining difficulty depending on how quickly blocks are found, ensuring consistent issuance.
There are approximately 104,986 blocks left in the cycle, and Bitcoin’s supply continues on a reliable path towards the fixed cap. With each new era, the issuance volume and its inflation rate decrease further, reinforcing long-term scarcity.
The maximum supply of Bitcoin is fixed at 21,000,000 coins, which is one of the main characteristics behind its scarcity. Recently, the network reached a major milestone with the 20 millionth Bitcoin mined. This means it will take another 114 years to mine the last 1 million Bitcoins.
Bitcoin gains after halving lag behind previous cycles
Bitcoin has risen about 15% since the April 2024 halving, rising from about $64,000 to just under $75,000. It previously reached its all-time high of about $126,000 in October 2025, but fell by about 50% to $60,000 in early February.
However, according to data from Glassnode, the same period after the halving is lower than in past cycles, and the trend of declining revenue continues.
This is largely expected because as Bitcoin matures, adoption will expand, market capitalization will grow, and more capital will be required to generate huge profits. As a result, volatility has decreased from cycle to cycle and price movements have become more gradual compared to previous cycles.
