Editor's PiCK
"Bitcoin remains steady, supported by Asian dip-buying… Accumulation signals weak"
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- Bitcoin has limited its decline in the recent correction phase thanks to the relative stability of the Asian market.
- On-chain indicators show weak signals for a resumption of Bitcoin accumulation, and both large and small holders are not actively expanding purchases at the current price levels.
- Ongoing global macro uncertainty and a risk-averse stance among Western investors suggest Bitcoin is likely to continue fluctuating without a clear direction.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
Bitcoin has limited its decline in the recent correction phase, helped by the relative stability of Asian trading hours, but on-chain indicators do not show clear signs of renewed accumulation. Regional supply and demand flows are mixed, and overall market participation is still assessed to be in a cautious phase.
On the 25th (local time), according to AMB Crypto, data tracking session-by-session cumulative returns for Bitcoin showed that the Asia-Pacific (APAC) trading hours recorded a small but relatively consistent upward trend even during the recent adjustment period. In contrast, during the same period, the U.S. and European trading hours showed increased volatility and declines in net returns.
This pattern suggests that Asian market participants have absorbed declines more gradually during the recent price adjustment. With short-term weakness eliciting a relatively limited response, the Asian trading session is acting as a buffer against downward pressure. However, the extent of these gains is gradual and cannot be interpreted as an active bargain-buying phase.
Conversely, U.S. and European trading hours are driving downward pressure. Amid ongoing global macro uncertainty, risk-averse behavior among Western investors has strengthened, increasing price volatility. As a result, Bitcoin has generally been repeating directionless ups and downs.
On-chain indicators provide additional context to these regional differences. According to Glassnode's Bitcoin accumulation trend score, the clear accumulation phase seen in some adjustment periods earlier in the year has recently shifted to a neutral or modest distribution phase. This indicates that neither large holders nor small holders are significantly expanding purchases at the current price levels.
The market now appears to be in a wait-and-see phase without a clear direction. Price support is being maintained by selective dip-buying, but this is not seen as an accumulation trend based on long-term conviction.
In summary, the relative strength of the Asian market is restraining sharp declines, but this is closer to a stabilization phase than a trend reversal signal. Until on-chain accumulation trends improve and market participation expands, Bitcoin is likely to continue trading within a limited range for the time being.
