Which cryptocurrencies are most affected by the closing of the US market?

3 answers

• Dec 25, 2021 · 3 years ago
  When the US market closes, cryptocurrencies that have a strong presence in the US market tend to be the most affected. This includes popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin. The reason for this is that the US market is one of the largest and most influential markets for cryptocurrencies, and any news or events that occur during the closing hours can have a significant impact on these digital assets. Additionally, US-based investors and traders play a major role in the overall trading volume and liquidity of these cryptocurrencies, making them more susceptible to market fluctuations during the closing of the US market.
  647324
• Dec 25, 2021 · 3 years ago
  The closing of the US market can also have a ripple effect on other cryptocurrencies. For example, when major cryptocurrencies like Bitcoin experience a significant price movement during the closing hours, it can create a domino effect and cause other cryptocurrencies to follow suit. This is because many altcoins are traded against Bitcoin or other major cryptocurrencies, and any price movement in these leading digital assets can influence the overall sentiment and trading behavior of the market. Therefore, even cryptocurrencies with a smaller presence in the US market can still be indirectly affected by the closing of the US market.
  641214
• Dec 25, 2021 · 3 years ago
  According to our analysis at BYDFi, we have observed that cryptocurrencies with a strong reliance on the US market for trading volume and liquidity are the most affected by the closing of the US market. This includes not only the popular cryptocurrencies mentioned earlier, but also some altcoins that have gained significant traction among US-based investors. The reason for this is that when the US market closes, the trading activity and liquidity for these cryptocurrencies decrease, which can lead to increased volatility and potential price fluctuations. It is important for traders and investors to keep an eye on the closing hours of the US market and consider the potential impact on their chosen cryptocurrencies.
  723181