Bitcoin soars 160% in 2023 with US traders leading the charge
Bitcoin's 75% surge during U.S. hours leads its exceptional performance in 2023.
Quick Take
Bitcoin's performance in 2023 has been extremely strong, with a return of 160%, and has been characterized by distinct regional variances, with U.S. trading sessions taking the lead in terms of returns.
A notable upswing of 75% was recorded for Bitcoin during U.S. sessions, placing it at the forefront of the digital assets market this year. In contrast, the E.U., though showing a considerable return of 37%, has remained in mid-position. The Asian market, while still significant, has lagged behind with a 22% return in the same timeframe, according to Velo Data.
Interestingly, E.U. and U.S. markets showed a parallel performance for most of the year, both displaying similar return rates of approximately 35% until October, according to Velo Data. It was then that the U.S. market broke away, exhibiting an extreme bullish trend that solidified its dominant position. Conversely, the Asian market experienced a couple of setbacks with negative cumulative trading sessions in June and September, contributing to its third-place standing.
