The first Bitcoin halving since 2020 leads to a rise in crypto prices at the start of the week.

After the network completed its fourth ever halving on Friday, which reduced the incentives paid to bitcoin miners, the price of bitcoin rose slightly to start the week.

The cryptocurrency price rose 1.5% to $3,198.06, according to Coin Metrics, which was last higher by 1.8% at $65,891.28.

Public cryptocurrency miners' shares experienced a rise premarket Monday, following a rally into the close Friday before the halving, which took place later that day. The largest miners, including and , gained approximately 3% and 5%, respectively. Similarly, and increased by 3% and 4%, respectively.

The Bitcoin halving reduces the rewards given to miners by half and happens approximately every four years, as per the code. This is done to limit the number of bitcoins issued, creating a shortage and preserving the cryptocurrency's unique digital and gold-like characteristics.

Bitcoin's price has not seen significant action following its halving, as historically it takes several months for the impact to be reflected in the market. However, JPMorgan predicts some near-term downside risk in the cryptocurrency.

Crypto miners have been preparing for months by increasing their electricity capacity and purchasing new, more efficient mining equipment to absorb the event and maintain their hash rates.

The risk of smaller, less efficient operations being forced offline could lead to larger miners taking more market share and opening up M&A opportunities.