“Buy Asia, Sell US”… Bitcoin Recent Hourly Trading Patterns

[뉴욕 = 장도선 특파원] Bitcoin appears to be repeating its pattern of strength during Asian trading hours and declines during U.S. trading hours as it continues its recent range-bound movement.

Cryptocurrency analyst Miles Deutscher posted a related chart on X (formerly Twitter) on the morning of the 30th (local time), saying, “Buying in Asia and selling in the US has been the trading pattern for the past few days.”

He followed up with another post about three hours later, saying the pattern was repeating “like clockwork.” Indeed, Bitcoin was stable above $59,000 during the Asian time zone before briefly dropping below $58,000 during the New York time zone.

Source: Miles Deutscher (X Post)

Meanwhile, the US nonfarm payrolls report for August, which will be released next week, is being pointed out as a new short-term catalyst for Bitcoin, which has been continuing its recent range-bound weakness. If the August report, following the July report, highlights the weakness in the labor market, bulls expect that this will have a positive impact on Bitcoin as expectations of a 50bp rate cut by the Federal Reserve in September will grow again.

At 1:30 p.m. New York time on the 30th, Bitcoin was trading at $58,535 on CoinMarketCap, down 3.10% from 24 hours ago. The New York time low for the day was $57,768. Bitcoin has been in a correction since hitting an all-time high of $73,750.07 on March 14.

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