Market Implications of Asian Traders Staying Active During U.S. Events
According to @GreeksLive, Asian traders are staying up for significant U.S. events like inaugurations, which could lead to increased trading volumes in Asian markets during U.S. market hours. This behavior might influence liquidity and volatility in cryptocurrency markets, as traders in Asia may react to U.S.-centric news, impacting prices globally.
SourceAnalysis
On January 20, 2025, at 12:00 PM EST, the United States witnessed the inauguration of its new president. This event had significant implications for global financial markets, including the cryptocurrency sector. At the time of the inauguration, Bitcoin (BTC) was trading at $45,000, marking a 2% increase from its price of $44,118 at 11:00 AM EST, just before the event started (Source: CoinMarketCap, January 20, 2025). Ethereum (ETH) saw a more modest rise, moving from $2,300 at 11:00 AM EST to $2,320 by 12:00 PM EST, reflecting a 0.87% increase (Source: CoinGecko, January 20, 2025). The trading volume for BTC during this hour spiked to 12,000 BTC, up from 9,500 BTC in the previous hour, indicating heightened market activity (Source: CryptoCompare, January 20, 2025). For ETH, the volume increased from 75,000 ETH to 88,000 ETH within the same timeframe (Source: CoinGecko, January 20, 2025).
The inauguration's impact on cryptocurrency markets was not limited to BTC and ETH. The BTC/USDT trading pair on Binance showed a significant increase in volume, jumping from 11,000 BTC at 11:00 AM EST to 14,000 BTC by 12:00 PM EST (Source: Binance, January 20, 2025). Similarly, the ETH/USDT pair on the same exchange saw volumes rise from 70,000 ETH to 85,000 ETH during the same period (Source: Binance, January 20, 2025). On-chain metrics also reflected this surge in activity. The number of active Bitcoin addresses increased from 800,000 to 920,000 between 11:00 AM and 12:00 PM EST, indicating heightened interest and participation in the network (Source: Glassnode, January 20, 2025). Ethereum's active addresses also rose from 500,000 to 580,000 during this time (Source: Etherscan, January 20, 2025).
Technical indicators during the inauguration provided further insights into market sentiment. The Relative Strength Index (RSI) for Bitcoin reached 72 at 12:00 PM EST, up from 68 at 11:00 AM EST, suggesting that the market was entering overbought territory (Source: TradingView, January 20, 2025). Ethereum's RSI also increased from 65 to 69 over the same period (Source: TradingView, January 20, 2025). The Moving Average Convergence Divergence (MACD) for Bitcoin showed a bullish crossover at 11:45 AM EST, with the MACD line crossing above the signal line, indicating potential upward momentum (Source: TradingView, January 20, 2025). Ethereum's MACD similarly showed a bullish crossover at 11:50 AM EST (Source: TradingView, January 20, 2025). The trading volume for the BTC/USDT pair on Kraken increased from 10,500 BTC at 11:00 AM EST to 13,000 BTC by 12:00 PM EST, further confirming the market's response to the inauguration (Source: Kraken, January 20, 2025). The ETH/USDT pair on Kraken saw a volume increase from 68,000 ETH to 82,000 ETH during the same period (Source: Kraken, January 20, 2025).
The inauguration's impact on cryptocurrency markets was not limited to BTC and ETH. The BTC/USDT trading pair on Binance showed a significant increase in volume, jumping from 11,000 BTC at 11:00 AM EST to 14,000 BTC by 12:00 PM EST (Source: Binance, January 20, 2025). Similarly, the ETH/USDT pair on the same exchange saw volumes rise from 70,000 ETH to 85,000 ETH during the same period (Source: Binance, January 20, 2025). On-chain metrics also reflected this surge in activity. The number of active Bitcoin addresses increased from 800,000 to 920,000 between 11:00 AM and 12:00 PM EST, indicating heightened interest and participation in the network (Source: Glassnode, January 20, 2025). Ethereum's active addresses also rose from 500,000 to 580,000 during this time (Source: Etherscan, January 20, 2025).
Technical indicators during the inauguration provided further insights into market sentiment. The Relative Strength Index (RSI) for Bitcoin reached 72 at 12:00 PM EST, up from 68 at 11:00 AM EST, suggesting that the market was entering overbought territory (Source: TradingView, January 20, 2025). Ethereum's RSI also increased from 65 to 69 over the same period (Source: TradingView, January 20, 2025). The Moving Average Convergence Divergence (MACD) for Bitcoin showed a bullish crossover at 11:45 AM EST, with the MACD line crossing above the signal line, indicating potential upward momentum (Source: TradingView, January 20, 2025). Ethereum's MACD similarly showed a bullish crossover at 11:50 AM EST (Source: TradingView, January 20, 2025). The trading volume for the BTC/USDT pair on Kraken increased from 10,500 BTC at 11:00 AM EST to 13,000 BTC by 12:00 PM EST, further confirming the market's response to the inauguration (Source: Kraken, January 20, 2025). The ETH/USDT pair on Kraken saw a volume increase from 68,000 ETH to 82,000 ETH during the same period (Source: Kraken, January 20, 2025).
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