Matrixport: Bitcoin rose 40% in 2023, with 35% occurring during U.S. trading hours

ChainCatcher news, according to a report released by Matrixport, Bitcoin has risen by 40% in 2023, with 35% of the returns occurring during U.S. trading hours, which means that "85% of the rise contribution" is related to U.S. investors, indicating that U.S. institutions are currently the main buyers of Bitcoin.

Markus Thielen, head of research and strategy at Matrixport, stated that this evidence suggests that institutions have not "given up on cryptocurrency," indicating that we may be entering a new "cryptocurrency bull market." Additionally, Markus Thielen added that previous data shows that institutions typically start by purchasing Bitcoin before investing in other cryptocurrencies. (Source link)