👍👍How Do Asian Markets Affect Cryptocurrencies? 👍👍

The cryptocurrency market experiences significant fluctuations, especially during Asian trading hours. According to the report published by 10x Research, Bitcoin lost 20% of its value last month, and 13% of this decrease occurred during Asian trading hours. This situation significantly reveals the impact of the region on the market. The fact that many investors in Asia faced liquidations further deepened Bitcoin's loss of value.

Ethereum also lost 22% of its value during the same period, with 16% of this loss occurring during Asian trading hours. This highlights the significant impact of Asian trading activity on Ethereum's market performance. The fact that 65% of the total declines in Bitcoin and Ethereum occurred during Asian trading hours shows that Asian markets play a critical role in the cryptocurrency world.

The 10x Research report highlights the sensitivity and volatility of cryptocurrencies to regional trading behavior. The significant losses experienced during trading hours in Asia clearly demonstrate how market sentiment and trading strategies in this region are driving significant price movements. On the other hand, significant liquidations experienced by individual investors rather than institutional investors contribute greatly to the overall downward trend.

The 10x Research report states that Bitcoin is in the oversold zone in the short term and a potential macroeconomic headwind is expected next week, so a countertrend rally may be possible. It is also emphasized that positive momentum can be achieved in the short term if the SEC launches the Ethereum ETF.

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