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Bitcoin Intraday Trading Pattern Emerges as Institutions Pile in

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Explain This: Bitcoin's Wild Ride
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Bitcoin has shown a tendency lately to clock its intraday low in the Asian or European session, and end near daily highs in the U.S.

For example, the low on Monday was after 3 a.m. New York time and the high around 4 p.m. Tuesday’s low was right at the start of the Asia session before a run higher and steadying out near $54,000. Somewhat similar patterns were evident Wednesday and Thursday. A theory has emerged that this may be due to tokens being mined and sold in Asia, and then buyers come into the market in U.S. hours.