Bitcoin's fourth halving event occurred on April 20, 2024, at block height 840,000, reducing the block reward from 6.25 BTC to 3.125 BTC. This halving has effectively cut the daily issuance of Bitcoin in half, now standing at 450 BTC, and has decreased the annual supply inflation rate to 0.83%. By the end of the year, the total Bitcoin supply is expected to reach 19.7 million, leaving less than 1.3 million BTC to be mined. This event underscores Bitcoin's deflationary design, as miners increasingly depend on transaction fees for revenue. The halving is a critical component of Bitcoin's protocol, designed to control supply and maintain scarcity, which is a key factor in its valuation dynamics.