Glassnode
From July through the September breakout, US trading hours drove most of Bitcoin's gains. Since then, the US session has become a net seller, reversing the direction of the bid that led the advance.
Why it matters
The change points to a loss of support from a session that had been a major driver of Bitcoin's rally. It marks a shift in trading direction, though the seed provides no figures on the scale of the selling.
Market impact
ETF flows and liquidations are part of the broader on-chain picture highlighted alongside the reversal. The key question for Bitcoin market watchers is whether US-session selling persists or gives way to renewed demand.
Frequently asked questions
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When did US trading hours drive most of Bitcoin's gains?
From July through the September breakout, US trading hours drove most of Bitcoin's gains.
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How has the US session's role in Bitcoin trading changed?
Since the September breakout, the US session has shifted from driving gains to being a net seller.
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Why is the change in US-session trading direction notable?
US trading hours had been a major source of demand during Bitcoin's gains, and are now selling on net.
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What other indicators are part of the broader on-chain picture?
ETF flows and liquidations are also highlighted as part of the broader picture.
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What should Bitcoin market watchers monitor after the shift?
They can watch whether US-session selling persists or gives way to renewed demand.
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