It is believed that the market should react immediately, otherwise 'something went wrong'.
The key error here is the confusion between an event and a process. Halving is a point in a long chain of changes, not its beginning. It fixes the reduction in supply that is already occurring, but does not create it in the moment.
The market operates through expectations. When everyone knows about an event in advance, the reaction is spread out over time. Some participants act much earlier, some — much later, and the date itself becomes merely a symbolic mark. In such a system, the absence of immediate movement is not an anomaly, but a normal state.$BTC
The expectation of a quick result distorts perception. Halving does not have to confirm scenarios immediately — and most often, this is what leads to confusion.
