Here’s What’s Driving The Bitcoin, Ethereum, And XRP Price Recovery

The Bitcoin, Ethereum, and XRP prices are showing signs of recovery as traders across regions take sharply different approaches to the latest price swings. Fresh market data reveals that buying and selling pressure is no longer evenly distributed throughout the day, with the United States emerging as the key source of support. At the same time, other regions struggle to regain a solid footing. 

US Traders Fuel Bitcoin, Ethereum, And XRP Price Recovery

Bitcoin’s market has moved once again as fresh on-chain data shows a clear divide in buying and seeking across global trading hours. A recent shift in US trading activity has had a noticeable impact on the broader crypto market. Ethereum and XRP, which experienced a sharp decline in previous weeks, have begun to stabilize and show mild recovery as Bitcoin strengthens during US hours. 

Currently, the price of BTC is above $90,000 after crashing below $87,000 earlier in the week. Ethereum has also reclaimed the $3,000 level and is now trading steadily above it. XRP has recorded the most weekly increase between the two, jumping approximately 14% according to CoinMarketCap, with its price presently around $2.18. While these cryptocurrencies have yet to regain all lost ground, renewed buying from US traders has helped ease the downward momentum that dominated in previous weeks. 

Sharing a new session-based chart from Velo, market analyst Ted Pillows disclosed that the US has reemerged as a net buyer of Bitcoin. At the same time, Asia remains the primary source of selling pressure throughout the year. This regional imbalance has reshaped the latest price movements of Ethereum and XRP, which tend to follow Bitcoin’s upward trajectory. 

The latest figures from Velo support this view. Velo’s Bitcoin session chart shows that US trading hours, which had been in negative territory earlier in the week, climbed steadily into positive territory from November 24 to date. The blue line representing US hours rose from just above 2% to 3.73% on November 24 before reaching 7.55% by November 26. This reflects a gain of more than 4% over the period, confirming a strong resurgence in demand from US traders. 

Europe Remains Uneven While Asia Leads Bitcoin Selling 

European trading hours, highlighted by the purple line, have been more uneven than those of the US. Europe rose to 1.67% on November 24 and briefly pushed higher to 3.31% later that day. This surge comes after the cumulative weekly return fell into negative territory from November 21, and while a slight recovery followed, it still ended the week below the flat line. This suggests that despite weak buying momentum, Europe may no longer be delivering the heavy selling pressure seen earlier. 

On the other hand, Asia continues to lag behind both regions. Velo’s chart shows that the APAC trading session, represented by the yellow line, started in slightly positive territory around November 20 but turned negative soon after. For most of the week, the regions remained between -5% and -7%. This persistent weakness signals a continuation of the year-long pattern in which Asian hours have been the leading driver of Bitcoin’s sell-side pressure.  

Featured image from Unsplash, chart from TradingView