Analysis: Bitcoin's gains in 2026 were concentrated during North American trading hours, while Asian trading hours dragged down its overall performanc...
TL;DR
Bitcoin's 2026 gains were driven by North American trading hours, while Asian sessions underperformed, reversing the trend from late 2025. Strong returns post-US market open contrast with previous weakness, with global demand possibly influencing prices.
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According to ChainCatcher, citing CoinDesk, Bitcoin briefly reached $96,000, marking a nearly 10% increase since the beginning of 2026. This upward trend was primarily driven by strong performance during the North American trading session. According to Velo data, Bitcoin's cumulative return during the North American session was approximately 8%. In contrast, the European session saw only a modest increase of about 3%, while the Asian trading session dragged down the overall performance.
This trend is the complete opposite of what happened at the end of 2025. Back then, Bitcoin fell by as much as 20% in late November during North American trading hours, hitting a low of nearly $80,000. In the fourth quarter, Bitcoin selling pressure frequently emerged at the opening of the US market, and spot Bitcoin ETFs faced almost daily outflows. The strongest returns now appear shortly after the US market opens, a period that coincides with Bitcoin's weakest performance over the past six months.
The US trading session does not necessarily reflect the trading activity of US investors, as price performance during this period reflects the price fluctuations of US-based exchanges and overseas exchanges like Binance. Therefore, strong gains during the US market session may coexist with a negative premium on Coinbase, suggesting that demand may originate from global participants rather than US buyers.