Analysis: Since the second half of October, Bitcoin returns have been mainly driven by the Asian session, while the European session has dragged down the overall performance

Galaxy Research Research Director Alex Thorn stated that since the second half of October, Bitcoin returns have been primarily driven by the Asian trading session, while the European trading session has dragged down overall performance.

The chart he shared shows that as of October 20, calculated from October 1, the cumulative return of Bitcoin during the Asian trading session was 3.9%, 1.1% during the U.S. trading session, and -5.5% during the European trading session; the return for buying and holding all day during the same period was -0.7%.