Basically halving the total amount of Bitcoin in circulation.
What? Are we subtracting the number of Bitcoin in circulation estimated every 4 years? Lol after several years then there will a thousands in circulation

Anyway, you might want to ask the Bitcoin miners regarding your query, because basically Bitcoin block halving is cutting the block reward for the miners. So, that means, If a miner will earn 12.5
BTC per block , after the halving it will decrease to just 6.25
BTC per block.
Now, If the block halving is just a theory, Bitcoin should've been close to reaching the max cap of 21,000,000 by now.