Markets
Bitcoin sees increased volatility during EU trading hours after April halving
Onchain Highlights
DEFINITION: This measure shows the 30-day evolution of the regional price set during EU working hours, i.e. respectively between 8:00 a.m. and 8:00 p.m. Central European Time (07:00-19:00 UTC) and Central European Summer Time (06:00-18:00 UTC).
The monthly price evolution of Bitcoin in the EU region shows significant fluctuations in recent months. Analyzing the first half of 2024, the data reveals a marked increase in volatility after the halving in April.
From early January to mid-March, Bitcoin price experienced a notable uptrend during EU trading hours, with several periods of positive momentum. However, after the halving event, the trend changed dramatically. The charts illustrate a sharp decline in May, reflecting increased selling pressure and a sustained downward move with a brief respite in early June.
Bitcoin: Monthly Price Evolution in EU: (Source: Glassnode)
Historical data provides additional context, highlighting similar volatility patterns after major events. For example, the 2017 and 2021 bull markets experienced significant month-to-month price fluctuations, particularly during key regulatory developments and market corrections. The current trend aligns with these historical patterns, suggesting that post-halving market conditions continue to influence Bitcoin price action in the EU trading window.
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