Bitcoin’s 90-day correlation to the S&P 500 is now at its highest level since October 2020, with the most Bitcoin activity occurring during US trading hours.
The volume of trading in the United States is expected to increase significantly in 2022, accounting for 43 percent of the average 24-hour volume.
Since late 2021, trading volumes have risen throughout US market hours. Between November 1, 2021 and January 16, 2022, the 43 percent figure increased from 36 percent to 43 percent.
On the last three Mondays and Tuesdays of the year, up to 50 per cent of Bitcoin trade volume happened, before drifting down to the 40 percent area.
In light of the data, analysts predict that Bitcoin will drop to USD 38,000 “before an eventual breakthrough,” which might happen during U.S. trading hours.
