Definition
This metric shows the 30-day change in the regional price set during Asia, US, and EU 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.
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Quick Take
- Asia has been considered the smart money of the Bitcoin (BTC) ecosystem for several years, as they buy BTC when prices are suppressed and sell when prices are high.
- CryptoSlate has analyzed this behavior for several months, and a clear trend emerged known as the Asia premium.
- Specifically, in the last six months, Asia was buying from August 2022 to February 2023 — while the west was selling BTC in fear.
- However, Asia was selling small amounts during the FTX collapse and has started to sell again.
- This trend is essential to watch and witness if Asia is genuinely the ecosystem’s smart market.
The post Asia smart money flips bearish on Bitcoin for the first time since the FTX collapse appeared first on CryptoSlate.
