I believe that many people get disappointed by the halving and might think this would be the worst halving history. But for me, we can't tell yet if this would be really the worst because we still in the bullish market. And what we see in the market now is just a retracement and the retracement was not yet finished. There is a lot of zone in the bottom where the price possibly go, not only the literal SNR but also the imbalances and swing points. I see a lot of imbalances below and it's not filled yet. There is a high chance that the price will hit that area before the price explodes.
Why the disappointment? Never in the history of Bitcoin had we had pump immediately when the halving occur, I have check the chart and it was a year later that we do have the bull run but somehow, a lot happened in this cycle that institutional investors are controlling the market, they don't want to see their investment go down and they are holding it from collapse.
Another thing you should put into consideration is that there must be a correction else no one would be confident about the bull run and right now, the market is doing the opposite and if it remain like this, there is no certainty yet about bull run but in the future, something must happen.