Matrixport: The U.S. has become the main driving force in this market cycle, while the rise of Ethereum is led by Asia

Odaily Planet Daily reports that Matrixport released today’s chart stating that in the past week, Bitcoin and Ethereum rose by 8% and 19% respectively, with the market recovery also prompting extensive coverage from mainstream American media. As 'Crypto Week' approaches and policy expectations heat up, market sentiment has noticeably improved. With stablecoin legislation expected to materialize, the voice that the U.S. is becoming the 'global crypto capital' is becoming increasingly strong. From the stable inflow of ETF funds, to companies accelerating their allocation of crypto assets, to the anticipation of Circle's listing, the U.S. has undoubtedly become a significant driving force in this market cycle. Although the inflow of U.S. funds remains steady, the recent momentum in Ethereum’s rise comes more from the Asian market. In the past month, Ethereum overall rose by 18% (as indicated by the white line in the chart), with as much as 17 percentage points occurring during Asian trading hours. This implies that, whether in terms of volatility or trading momentum, the influence of the Asian market on crypto asset pricing is continuing to rise.