Bitcoin and Ethereum Face Consecutive Asia Session Sell-offs
- Bitcoin and Ethereum experience Asia session sell-offs; no official comments.
- Market losses include $162 billion wiped out recently.
- Current sell-offs reflect seasonal patterns, driven by macroeconomic factors.
Bitcoin and Ethereum experienced significant sell-offs during four consecutive Asia trading sessions post-daily open, indicating a pattern of market volatility affecting investor sentiment this September.
This pattern underscores heightened market risk, driven by seasonal trends and macroeconomic factors, causing substantial fluctuations in crypto values and influencing trading strategies during Asia sessions.
Bitcoin (BTC) and Ethereum (ETH) have faced four consecutive sell-offs during Asia trading sessions, aligning with seasonal trends typical for September.
The event highlights recurrent seasonal factors in cryptocurrency markets, with significant immediate impacts on market valuations globally.
Four Consecutive Sell-offs for Bitcoin and Ethereum
During four consecutive Asia sessions, significant sell-offs have been observed in Bitcoin and Ethereum, coinciding with the daily opening. Ethereum’s decline is notably steeper than Bitcoin’s.
The sell-offs are not linked to specific regulatory or exchange actions. Core networks and key market players, including QCP Capital, have not issued comments on these occurrences.
$162 Billion: Market Value Wiped Out
Around $162 billion was wiped from the market value, affecting various cryptocurrencies. Both BTC and ETH saw temporary price recoveries after initial reductions.
The sell-offs impact financial markets by exacerbating volatility. Seasonal trends combined with macroeconomic influences are primary drivers, not new regulations or exchange shifts. According to QCP Capital, Asia Trading Desk, “Doubts about the Fed’s independence are keeping term premiums elevated, a setup that weakens the dollar and supports hedges like BTC and gold. But options desks and prediction markets show momentum gathering in ETH instead, where traders see the most potential for a breakout.” source
September Effect: A Historical Crypto Pattern
The current pattern fits the historical September effect, where cryptocurrencies have often experienced losses. Past years, except 2017, reflect this trend.
Experts predict continued volatility, driven by macroeconomic forces. Market dynamics from previous Septembers suggest potential short-term rebounds, driven by trader and institutional actions.
| Disclaimer: The information on this website is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are volatile, and investing involves risk. Always do your own research and consult a financial advisor. |
