Matrixport: Most of Bitcoin’s declines over the past month occurred during the Asian trading hours
According to a report released by Matrixport, Bitcoin's performance in different time zones shows that in the past 30 days, most of Bitcoin's decline occurred during the Asian trading session, accounting for -13% of the total -15% decline. This trend may be influenced by the dominant activity of Korean retail traders during these hours. When analyzing retail activity, Korea stands out in particular. The trading volume of Korean exchanges is closely related to the annualized funding rate of Bitcoin, which is a key indicator for determining the profitability and market trends of basis trading (spot and futures). Korean traders played a key role in driving the surge in altcoin markets. Due to the lack of futures markets for Korean retail investors, their interest in altcoins led to a large number of leverage opportunities.
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