Glassnode data analysisData encryption quartz sandstoneInvestment analysts show that since the middle and late January, Asian, American and European countries have been looking at Bitcoin (BTC) and ETH.

As the regional price index value shows, investors from these three regions have a higher preference for BTC than for ETH. In addition, the supply of BTC in Asia is increasing year by year, which means that BTC will continue to increase in a short time.

Regional price

The commonly used regional price index values in this study show the 30-day price changes in Asia, European Union countries and the United States. Before estimating the regional price index value, it is necessary to record the price change within the medium-term period of a regional work. Then, the price of the region can be determined by calculating the total number of price changes recorded during the period of work in the region.

The figure below shows the regional BTC prices in all three regions since the beginning of 2022. The bright red bar represents the regional price of the United States, while the blue and green bars represent the European Union countries and Asia respectively.

If the indicator is lower than the zero line, it indicates that the region is bullish on BTC. It may be located above the line, which represents the bullish attitude of the region.

According to the data chart, these three regions became bullish in the middle and late January 2023, and have been bullish since then, with the United States more bullish. The last time all three regions were bullish was in August 2022, a short time after Luna's collapse.

Ether coin

Regional ETH prices in Asia, the United States and the European Union also showed a similar bullish attitude. The figure below shows the ETH prices in each region since the beginning of 2022. The United States, European Union countries and Asia are indicated by bright red, blue and green respectively.

The price of BTC is similar to that of regional BTC. At present, all three regions are interested in ETH, and the United States is more interested in ETH. However, no region shows the same passion as BTC.

Supply in Asia compared with the same period

This indicator brings about the possibility of year-on-year change in the share of BTC supply intermediate market owned and paid. The figure below shows the year-on-year supply in Asia since the beginning of 2010.

According to the data, the year-on-year supply of the region exceeds 8.5% at this stage. This percentage shows that Asia is at the highest bullish point so far.

previousData encryption quartz sandstoneThe study found that Asian investors have created and maintained a smart credit reputation by continuously buying at the bottom and selling at the top. Assuming that Asia is "smart" again, his bullish attitude indicates that BTC will continue to improve, at least for a short time.