Understanding regional market data is becoming increasingly important when analyzing the Bitcoin market. Bitcoin’s global nature means trading activity in one region can significantly influence worldwide price movements. By analyzing where this activity is most concentrated, we can gain insights into which regions exert the most influence on Bitcoin’s price.
Glassnode offers estimates for both the supply and price change of Bitcoin across three major regions: Asia, the European Union (E.U.), and the United States (U.S.). By correlating the timestamps of all transactions created by an address with the working hours of different geographical regions, Glassnode determines the probabilities of each entity’s location. This approach ensures that regional data is as accurate as possible, given the decentralized nature of Bitcoin.
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