According to BlockBeats, 10x Research reported on July 7th that Bitcoin has seen a 20% decline in the past month, with 13% of the drop occurring during Asian trading hours. This suggests that many retail traders in Asia have been liquidated. Similarly, Ethereum has also experienced a 22% decline, with 16% of the drop happening during Asian trading hours, where 65% of the decline was generated.
The significant drop in the value of these cryptocurrencies during Asian trading hours indicates a trend of liquidation among retail traders in the region. This trend could potentially impact the overall performance of these digital currencies in the global market.
The report by 10x Research provides insight into the volatility of the cryptocurrency market and the influence of regional trading hours on the performance of these digital assets. It also highlights the potential risks for retail traders in the Asian market, who seem to be bearing the brunt of these declines.