Crypto market selling pressure remains Asia dominated: Glassnode

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Although today’s minor price pump may have been led by Asian traders, it has typically been US and EU $BTC investors who have been buyers while those in Asia have been sellers for the past two years.

) network shows that the price of the largest crypto by market cap has stayed firmly within the same tight $5,000 range from $37,680 to $42,312. However, on March 22 the asset saw a sudden spike in price which elevated prices to a two-week high.“Bitcoin network utilization and on-chain activity remains firmly within bear market territory, albeit is recovering.”

The research concluded that there is a distinct difference in the behavior of the average BTC investor based on their geography. Notably, U.S. and E.U.-based investors have tended to be buyers, whereas Asian investors have tended to be sellers. This tendency has remained consistent since March 2020 with the exception of last November when both sides were buying heavily.

Specifically, Glassnode researcher and report writer"Checkmate" pointed out that U.S. and E.U. investors have offered general bid support for the past two years with heavy buying between late 2020 and early 2021, while “both regions capitulated throughout May-July.” E.U. buyers are currently providing the largest amount of support.drawdown, buying pressure has been mainly during US and EU trading hours.

Meanwhile, the majority of sell-side pressure has occurred during Asian market hours, suggesting a divergence in regional strategy.

 

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Yes sir

I'm tired of constantly investing usdt, and the rise in the price of bitcoin, even so insignificant, is like a breath of fresh air for me.

Every time some jumps happen, Asians are to blame...

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