To get a good understanding of the global market, you need to zoom out from daily and weekly closes. The Month-over-Month price change is one indicator that gives a good view of the overall market health. This measure shows the 30-day changes in regional prices during U.S., E.U. and Asian working hours. These regional prices are often determined by adding up the price changes in each region over a 30-day period.
Asia Smart MoneyAn analysis of the MoM Bitcoin price changes from October 2021 through July 2022 shows several interesting trends.
A trend started in Asia at the beginning of May 2022 that showed a growing bullish sentiment towards Bitcoin. The trend, highlighted in the black square of the graph above shows that investors in Asia have seen the greatest gains in crypto industry.
The above chart clearly shows that Asian investors have been dominant in the crypto market over the past two year and that the vast majority of smart money is coming from the Far East. Asia investors have been able sell the top of 2021 and then buy the bottom of 2021, as well sell the first pump at the summer’s lowests.
Asian investors were among the first to purchase Bitcoin when it dropped to $40,000 late last summer. They also sold Bitcoin in November 2021, when Bitcoin reached its highest point.
Trading volumes in Asia reached their highest level since last summer’s low prices. This was when Asia was taking advantage of the lower prices to offset mass sell-offs in America and Europe. Europeans and Americans are now more concerned about the crypto market after the Luna collapse and subsequent insolvency at some of the industry’s biggest players, Three Arrows Capital and Voyager. The situation was worsened by miners’ capitulation and a broader macroeconomic outlook.
But, it seems that the narrative of Asia-led change is happening quickly.
Data from July 2022 shows that accumulation is also occurring outside of Asia, with the U.S.A. and E.U. Markets are beginning to accumulate for the first time since April. This could be a sign that Bitcoin is becoming a more valuable asset in times when geopolitical and macro uncertainty prevails.
US Month-overMonth Price Variation by Glassnode Annotated By CryptoSlate
EU Month-over–Month Price Variation by Glassnode Annotated By CryptoSlate
Asia Month-over–Month Price Variation by Glassnode Annotated By CryptoSlate
Who is buying crypto? — Regional Market Overview: Asia, Europe, and the U.S. CryptoSlate.
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