The upcoming bitcoin halving is different from others before it. Here’s what investors need to know.

Just a few years ago, the bitcoin halving was something celebrated by only the earliest cryptocurrency lovers, who swore by it as a core feature of a revolutionary, anti-establishment deflationary asset.

Now, bitcoin has been embraced by the biggest institutions on Wall Street and continues to draw curious retail investors in each cycle. From the gleeful to the perplexed to the unimpressed,…