The world's biggest crypto price swings have caught investor attention; Bitcoin rose by nearly 7% and surpassed the $70,000 mark. This increase comes during times of relatively slow trading on Wall Street. However, the global crypto market cap has increased by more than 5% in the last day.

Are US traders pumping Bitcoin?

The trend of registering higher price volatility during US trading hours has been evident since Bitcoin price surpassed $60,000 in February. However, BTC continued to reach its all-time high of $73,750 (ATH) in March.

The highly anticipated introduction of spot Bitcoin exchange-traded funds (ETFs) played a significant role in increasing this momentum during US trading hours. Data shows that over $11 billion in net inflows have been recorded since its launch in January.

According to research by Kaiko, Bitcoin's volatility is measured by the difference between the highest and lowest prices every hour. Volatility is more visible during US trading hours compared to Asian hours. This directly indicates that trading activity and price movements are more intense during US market hours.

It is important to see the Asian trading time zone briefly emerge as a focal point for the crypto market in 2023 as the US monitors regulatory scrutiny. However, the recent increase in Bitcoin trading activity during US hours reflects a shift towards American markets.

Bitcoin price has increased by a good 71% in the last 60 days. At the time of writing, it is trading at an average price of $70,720. 24-hour trading volume increased by 47% to $44.5 billion. The largest crypto asset has a market cap of approximately $1.4 trillion. Grayscale Bitcoin Trust recorded a significant outflow of $1.9 billion last week, contributing to net outflows in US spot Bitcoin ETFs in the week ending March 22