Asian session returns have outpaced U.S. and EU sessions recently, but higher APAC trading volumes and retail-driven volatility do not guarantee a sustained second phase of the Bitcoin bull run. U.S. institutional flows, global dollar liquidity, and Federal Reserve policy remain decisive for the cycle’s continuation.
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Asian sessions show higher cumulative returns (≈47%) vs U.S. (≈31%) and EU (≈29%).
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APAC trading volumes rose ~69% YoY to $2.36 trillion by mid‑2025, boosting retail activity and volatility.
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Institutional dominance in the U.S. and EU suggests Asian gains may amplify but not permanently redirect the bull run.
Asian session returns lead market gains; Bitcoin bull run still hinges on U.S. institutional flows and Fed policy — read the analysis and implications now.
How are Asian session returns affecting the Bitcoin bull run?
Asian session returns have recently outpaced Western sessions, driven by rising APAC trading volumes and retail activity. However, the Bitcoin bull run’s next phase still depends on U.S. institutional flows, global dollar liquidity, and Federal Reserve policy rather than regional session performance alone.
Why did APAC trading volumes rise and what does that mean?
APAC trading volumes increased approximately 69% year‑over‑year to $2.36 trillion by mid‑2025, according to Velo data. Regulatory clarity in Hong Kong and higher stablecoin adoption encouraged institutional and retail participation, amplifying short‑term returns but also increasing speculative volatility.
What explains the East‑West divergence in returns?
Data shows APAC cumulative returns near 47% over the past year, compared with roughly 31% for the U.S. and 29% for the EU, per Velo data. Analysts attribute divergence to higher retail participation in Asia versus institutional dominance in the West.
How important is the Kimchi premium?
The Kimchi premium, tracked by CryptoQuant, remained positive for most of the year. A sustained premium signals strong local demand on South Korean exchanges and contributes to the eastward liquidity shift favoring APAC exchanges such as Binance, Bybit, and Bitget.
Market snapshot
Bitcoin is up 0.4% over 24 hours and trading near $113,000, reflecting a recovery after recent liquidations, per CoinGecko data. Short-term moves are sensitive to session flows and liquidation events; longer-term direction remains tied to macro liquidity and institutional allocation decisions.
Comparative returns table
| Session | Cumulative returns (past 12 months) | Primary driver |
|---|---|---|
| APAC (Asian session) | ~47% | Retail activity, regulatory clarity, stablecoin growth |
| U.S. session | ~31% | Institutional flows, macro liquidity |
| EU session | ~29% | Institutional participation, regulatory framework |
Frequently Asked Questions
Can APAC gains permanently redirect the bull market?
APAC gains can amplify the cycle but are unlikely to permanently redirect the bull market without sustained institutional inflows and favorable U.S. macro conditions. Retail-driven rallies often show higher volatility and shorter duration.
What indicators should traders monitor?
Monitor APAC trading volumes, Kimchi premium, U.S. vs offshore exchange reserve ratios, Federal Reserve policy statements, and institutional inflows reported by exchanges and market data providers.
Key Takeaways
- Regional performance differs: APAC session returns (~47%) have outpaced U.S. and EU.
- Drivers matter: Retail-driven APAC volatility contrasts with institutional flows in the West.
- Macro and institutional signals decide: Fed policy, global liquidity, and U.S. institutional allocations will determine the bull run’s sustainability.
Conclusion
Asian session returns have meaningfully outperformed Western sessions, supported by rising APAC trading volumes, regulatory clarity, and retail interest. However, the Bitcoin bull run remains fundamentally tied to institutional flows and macro liquidity, especially emanating from the U.S. market. Monitor liquidity indicators and policy updates to assess durability and positioning.
