Bitcoin market sentiment shifts as Asia turns from net buyers to net sellers

2023-3-7 01:22

Definition

This metric shows the 30-day change in the regional price set during Asia, US, and EU working hours, i.e., between 8 am and 8 pm.

Quick Take A thesis I have covered for a substantial amount of time is that Asia is the smart money of the Bitcoin ecosystem, but 2023 has put that thesis into question. Asia purchased Bitcoin for many years when prices were suppressed, notably in May 2021 (China Ban) and May 2022 (Luna collapse). Asia also offloaded Bitcoin during the peak of the 2021 bull run (January and November), while the West was a net purchaser. Bitcoin is of great value in 2023 as a buyer; in terms of market and realized cap drawdown. Asia has been a net seller in 2023; therefore, I believe the thesis is in question. Asia vs. West: (Source: Glassnode)

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$ 0.0003504 (-0.79%)
Объем 24H $23.722k
Изменеия 24h: 1.69 %, 7d: -15.28 %
Cегодня L: $0.0003504 - H: $0.0003699
Капитализация $0 Rank 4596
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asia bitcoin sellers buyers shifts sentiment turns

Источник: cryptoslate.com

asia bitcoin → Результатов: 126


Фото:

Southeast Asia’s Largest Bank Is Launching Crypto Trading And Custody For Bitcoin, Ethereum, And XRP

The largest retail and commercial bank in Southeast Asia by assets, DBS, is seemingly planning to launch a digital assets platform for the trading and custody of major cryptocurrencies. According to an announcement that was posted accidentally and deleted, the forthcoming crypto offering — the DBS Digital Exchange — is backed by the Singapore-headquartered bank […]

2020-10-30 22:34


Фото:

One of Asia’s Largest Banks, DBS, Launches Fiat-to-Crypto Exchange; Opens with BTC, BCH, ETH, & XRP

2020 is all about cryptocurrencies as the tide turns. The latest one to jump on the digital currency bandwagon is the largest retail and commercial bank of Singapore, DBS. The bank has soft-launched its cryptocurrency and fiat trading exchange with Bitcoin (BTC), Ethereum (ETH), XRP, and Bitcoin Cash (BCH) as the primary listed crypto assets.

2020-10-27 16:31


Фото:

2020 Monsoon Season and Dam Stress Threatens Chinese Bitcoin Miners

Digital currency proponents have been discussing the 2020 monsoon season in East Asia and how there’s a possibility it could wreak havoc on large bitcoin mining operations located in China. Recent estimates note that China has 50% of the world’s bitcoin mining capacity but if mining facilities are taken out by heavy rainfall and flooding, […] The post 2020 Monsoon Season and Dam Stress Threatens Chinese Bitcoin Miners appeared first on Bitcoin News.

2020-7-24 03:00


Crypto exchange Zipmex expands to Thailand

Licensed bitcoin and crypto trading platform Zipmex, today announced its launch in Thailand with its official mobile app. The expansion comes after successful launches in Singapore, Indonesia, and Australia as the company continues to accelerate operations across Southeast Asia to fuel a rising demand for digital currency due to the recent regulation changes in the […] CryptoNinjas: Crypto exchange Zipmex expands to Thailand

2020-7-9 14:36


Bitcoin’s Perfect Storm On The Horizon As Analyst Calls For ‘Inevitable’ Dollar Collapse

A new forecast from a chief Morgan Stanley executive claims the dollar is due for a severe crash that could benefit Bitcoin in a major way. What’s fueling this “inevitable” dollar collapse, and why does it make for a perfect storm for the first-ever cryptocurrency? Morgan Stanley Asia Chairman: The Dollar Is Inevitably Doomed For […]

2020-6-17 20:30


Фото:

LocalBitcoins Shuts Down Accounts in Problematic Countries

LocalBitcoins, one of the oldest cryptocurrency exchanges out there, has reportedly begun to suspend accounts of long-term users without prior notifications. Some Users Cannot Access Bitcoin Funds Forbes reported on Saturday that users across at least three regions, including Asia, Africa, and the Middle East, had noted their accounts to be “deactivated.

2020-1-28 03:00


Фото:

Tether (USDT) Usage Booms Among Businesses in Asia, Europe

According to a Bloomberg report published on January 22, 2020, premier stablecoin Tether (USDT) is witnessing a strong surge in demand by small merchants primarily based out of Asia and Europe. Tether Experiences Surprising Adoption Cryptocurrencies like Bitcoin (BTC) have existed for more than a decade now but their real-world adoption is still minuscule comparedRead MoreRead More.

2020-1-23 18:00


Фото:

Kraken Acquires Australian Crypto Platform Bit Trade

The global crypto exchanges industry continues to consolidate as some smaller players bow out and the big players try to gobble up as much as they can of the rest. As part of this trend, Kraken has now taken over the Australian platform Bit Trade in a bit to strengthen its foothold in the Asia […] The post Kraken Acquires Australian Crypto Platform Bit Trade appeared first on Bitcoin News.

2020-1-16 15:13


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