Bitcoin ETF inflows in US mark largest price boost since approval
Quick Take
An in-depth analysis of Bitcoin price variations across different regions, based on a 30-day metric, reveals intriguing patterns. The data from 8 am to 8 pm in Eastern, Central European, and China Standard Time provides insights into regional influences on Bitcoin price changes during typical work hours.
On Feb. 5, CryptoSlate observed a significant rise in Bitcoin prices in the US compared to a decline in Asia. Since Bitcoin’s inception, the US has seen a cumulative price change of 12,200%, while Asia experienced a drop of roughly 3,500%, according to Glassnode.
Arguably, one of the most substantial price shifts occurred on Feb.12, as Bitcoin prices surged from roughly $47,800 to $50,300 during US operational hours. This price leap, one of the most significant since the Bitcoin ETF approval on Jan. 11, is seemingly linked to an ETF inflow of $493 million.
Further data from Velo reinforce this bullish trend during US hours. Over a two-week observation period, Bitcoin appreciated 8% during US hours and 13% during EU hours, indicating increasing regional confidence in the leading digital asset.
The post Bitcoin ETF inflows in US mark largest price boost since approval appeared first on CryptoSlate.
Bitcoin ETF inflows in US mark largest price boost since approval
Quick Take
An in-depth analysis of Bitcoin price variations across different regions, based on a 30-day metric, reveals intriguing patterns. The data from 8 am to 8 pm in Eastern, Central European, and China Standard Time provides insights into regional influences on Bitcoin price changes during typical work hours.
On Feb. 5, CryptoSlate observed a significant rise in Bitcoin prices in the US compared to a decline in Asia. Since Bitcoin’s inception, the US has seen a cumulative price change of 12,200%, while Asia experienced a drop of roughly 3,500%, according to Glassnode.
Arguably, one of the most substantial price shifts occurred on Feb.12, as Bitcoin prices surged from roughly $47,800 to $50,300 during US operational hours. This price leap, one of the most significant since the Bitcoin ETF approval on Jan. 11, is seemingly linked to an ETF inflow of $493 million.
Further data from Velo reinforce this bullish trend during US hours. Over a two-week observation period, Bitcoin appreciated 8% during US hours and 13% during EU hours, indicating increasing regional confidence in the leading digital asset.
The post Bitcoin ETF inflows in US mark largest price boost since approval appeared first on CryptoSlate.