The Bitcoin market currently shows regional trend divergence: Asia buying on dips, the US continuing to sell off

Recently, the Bitcoin market has exhibited a significant regional divergence pattern. The US trading session remains under pressure, while Asian markets actively buy on dips, forming a stark contrast in market dynamics.

Data shows that Bitcoin has fallen more than 20% in November. The US trading session has been the main driver of the price decline, while Asian investors have continuously absorbed selling pressure, demonstrating a completely different market sentiment.

Analysis suggests that this disparity may be due to American investors paying more attention to risks such as liquidity tightening, whereas Asian traders are more inclined to view price corrections as buying opportunities.

It is noteworthy that the Coinbase Premium Index, which measures US institutional investor sentiment, has been nearly consistently negative throughout November, reflecting a generally cautious mood in the BTC market.

Meanwhile, retail investors are generally bearish, while whale addresses remain bullish, further highlighting the divergence among market participants.

In this market environment, on-chain analyst Ki Young Ju commented that the 386,700 Bitcoins held by institutions like MicroStrategy may limit the depth of price adjustments.

This institutional holding behavior is changing the traditional Bitcoin cycle pattern, making it difficult for prices to revert to lower levels predicted by classical models.

Fidelity Digital Assets Vice President Chris Kuiper believes that this correction is a healthy adjustment within a bull market, with a range of 20-30%, consistent with historical patterns.

According to on-chain data, short-term holders' MVRV ratio is currently experiencing unrealized losses, similar to previous market rebounds following price corrections.

However, Kuiper thinks this correction was not accompanied by significant negative news, but rather a natural profit-taking and leverage liquidation after the price surged to $100,000.

Looking ahead, market trends will depend on several factors. If US market sentiment improves, the current divergence pattern may ease; but if the global market structure continues to evolve, this regional difference could persist.

Additionally, macro factors such as government liquidity measures, regulatory policy changes, and institutional investors' holding strategies will play critical roles in influencing Bitcoin markets in the coming months.

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