Onchain Highlights
DEFINITION: This metric aims at giving an estimate for the year-over-year change in the share of the Bitcoin supply to be held/traded in Asia.
Bitcoin’s year-over-year supply change in Asia has shown significant fluctuations in correlation with its price. Since January, the supply change in Asia has seen a sharp increase from approximately 4% to over 8% by mid-May, aligning with Bitcoin’s price rise to over $70,000. It dipped throughout the start of June but has since regained the 8% level. This trend suggests a growing accumulation of Bitcoin within the Asian market, potentially driven by increased trading activity and investor interest in the region even through the recent downturn.
Bitcoin: Asia Year – over – Year Supply Change: (Source: Glassnode)
Historically, the Asian market has played a pivotal role in influencing Bitcoin’s price trends. The long-term chart indicates a notable pattern where periods of high supply change often coincide with major pr
We współpracy z: https://cryptoslate.com/insights/bitcoin-supply-in-asia-doubles-mirroring-2017-bull-run-pattern/
