If I'm not mistaking, the historical ATH performance hitted around $76,000 plus. Op you need to understand that the season that approaches the halving periods is usually a valuable where the market price goes higher and then befalls in a slash of half during the halving.
What I don't understand is if did you expects a higher increments in the market cap as you may feel so excited about the market increase in value even before the halving. Be assured that during this halving, the value of bitcoin Will depreciate effectively so, don't expect high or higher prices.
To me, it sounds like you don't know what the halvening is.
It is the halvening of the new issuance of bitcoin, so instead of 6.25 BTC rewarded every 10 minutes it is only 3.125 BTC every 10 minutes, which also could be translated as a reduction from 900 new BTC per day to 450 new BTC per day.. It does not effect the existing supply, except perhaps to put more pressure on the existing supply since fewer amounts of new BTC is coming onto the market.
Another thing that is NOT of immediate effect is that there is something like 100 blocks, so the miner cannot spend the newly minted coins until the next day.. so it is not a very long delay before the newly issued coins can be spent.
The reason that the price tends to go up after a halvening is that it might take a bit of time for the lowering of the new supply to be felt, yet this time around, it appears that there is an ongoing pressure on the BTC supply that had not been so much present in earlier halvenings, so if the ongoing pressures continue to be put on the existing BTC supply, then surely the BTC price will go up and it will allow for more BTC to be available for sale, yet it if the buying pressure is greater than the amount of coins that existing BTC holders are ready, willing and/or able to sell, then the BTC price will go up until a sufficient amount of BTC supply is made available for the various ongoing new BTC buyers are able to get their BTC (in this case quite a bit still seems to be coming from the new BTC ETF issuers).