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Concurrent buying of Bitcoin and Ethereum in EU, US, and Asia breaks six-month trend

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Concurrent buying of Bitcoin and Ethereum in EU, US, and Asia breaks six-month trend

Concurrent buying of Bitcoin and Ethereum in EU, US, and Asia breaks six-month trend James Van Straten · 43 mins ago

Increased interest and bullish sentiment towards Bitcoin and Ethereum in Asia, US and EU

1 min read

Updated: January 18, 2023 at 6:07 pm

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Definition

This metric shows the 30-day change in the regional price set during Asia, EU, and US working hours.

Regional prices are constructed in a two-step process: First, price movements are assigned to regions based on working hours in the US, Europe, and Asia. Regional prices are then determined by calculating the cumulative sum of each region’s price changes over time.

Quick Take

  • For the first time in 6 months, all three regions, the EU, the US, and Asia, are accumulating Bitcoin and Ethereum.
  • Asia buying is always a healthy sign, even if it’s muted compared to previous cycles.
  • Asia has been the smart money of the Bitcoin ecosystem for several years, as they tend to buy the dip and sell during bull runs.
Asia vs. West BTC: (Source: Glassnode)
Asia vs. West ETH: (Source: Glassnode)
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