Tuesday, November 5, 2024

Bitcoin experiences heightened volatility in EU buying and selling hours post-April halving

Onchain Highlights

DEFINITION: This metric reveals the 30-day change within the regional worth set throughout EU working hours, i.e., between 8 A.M. and eight P.M. Central European Time (07:00-19:00 UTC), respectively, and Central European Summer time Time (06:00-18:00 UTC).

Bitcoin’s month-over-month worth change within the EU area reveals important fluctuations over latest months. Analyzing the primary half of 2024, the information reveals a marked enhance in volatility post-halving in April.

From early January to mid-March, Bitcoin’s worth throughout EU buying and selling hours was in a noticeable uptrend, with a number of intervals of optimistic momentum. Nevertheless, following the halving occasion, the development shifted dramatically. The charts illustrate a pointy decline in Might, reflecting elevated promoting strain and a sustained downward motion with a short respite in early June.

Bitcoin: EU Month Over Month Price Change: (Source: Glassnode)
Bitcoin: EU Month Over Month Value Change: (Supply: Glassnode)

Historic knowledge gives extra context, highlighting related volatility patterns following main occasions. For example, the 2017 and 2021 bull markets noticed important month-over-month worth swings, notably throughout key regulatory developments and market corrections. The present development aligns with these historic patterns, suggesting that post-halving market situations proceed influencing Bitcoin’s worth motion inside the EU buying and selling window.

Bitcoin: EU Month Over Month Price Change: (Source: Glassnode)
Bitcoin: EU Month Over Month Value Change: (Supply: Glassnode)

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