Galaxy Research head of research Alex Thorn said Bitcoin’s returns since the second half of October have been driven mainly by Asian trading hours, while European hours weighed on overall performance. In a post cited by ChainCatcher, Thorn shared a chart showing that, as of Oct. 20 and using Oct. 1 as the starting point, Bitcoin posted cumulative returns of 3.9% during Asian trading hours and 1.1% during U.S. trading hours. European trading hours, by contrast, showed a cumulative return of -5.5%. Over the same period, a full-day buy-and-hold strategy returned -0.7%. The figures point to a clear divergence in Bitcoin’s performance across regional market sessions during the month.
According to ChainCatcher, Galaxy Research head of research Alex Thorn said Bitcoin’s returns since the second half of October have been driven mainly by Asian trading hours, while European trading hours have weighed on overall performance.
A chart shared by Thorn showed that, as of Oct. 20 and using Oct. 1 as the starting point, Bitcoin’s cumulative return during Asian trading hours was 3.9%. The cumulative return during U.S. trading hours was 1.1%, while European trading hours posted -5.5%. Over the same period, a full-day buy-and-hold approach returned -0.7%.
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