Onchain
Highlights

DEFINITION: This
metric
shows
the
30-day
change
in
the
regional
price
set
during
EU
working
hours,
i.e.,
between
8
A.M.
and
8
P.M.
Central
European
Time
(07:00-19:00
UTC),
respectively,
and
Central
European
Summer
Time
(06:00-18:00
UTC).

Bitcoin’s
month-over-month
price
change
in
the
EU
region
shows
significant
fluctuations
over
recent
months.
Analyzing
the
first
half
of
2024,
the
data
reveals
a
marked
increase
in
volatility
post-halving
in
April.

 

From
early
January
to
mid-March,
Bitcoin’s
price
during
EU
trading
hours
was
in
a
noticeable
uptrend,
with
several
periods
of
positive
momentum.
However,
following
the
halving
event,
the
trend
shifted
dramatically.
The
charts
illustrate
a
sharp
decline
in
May,
reflecting
increased
selling
pressure
and
a
sustained
downward
movement
with
a
brief
respite
in
early
June.

Historical
data
offers
additional
context,
highlighting
similar
volatility
patterns
following
major
events.
For
instance,
the
2017
and
2021
bull
markets
saw
significant
month-over-month
price
swings,
particularly
during
key
regulatory
developments
and
market
corrections.
The
current
trend
aligns
with
these
historical
patterns,
suggesting
that
post-halving
market
conditions
continue
influencing
Bitcoin’s
price
action
within
the
EU
trading
window.