📊 Bitcoin Supply and Price Dynamics in Asia:
Bitcoin's year-over-year supply change in Asia has shown significant fluctuations in correlation with its price.
Here's the breakdown:
📈 Supply Surge: Since January, the supply change in Asia increased sharply from approximately 4% to over 8% by mid-May, aligning with Bitcoin’s price surge to over $70,000.
📉 Temporary Dip: It dipped throughout early June but has since regained the 8% level.
🌏 Market Insight: 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.
Keep an eye on Asia trading hours for potential market movements! 🚀
