Bitcoin (BTC) experienced a robust start to 2026, with its price increases primarily occurring during North American trading hours, while Asian trading hours contributed to a drag on overall performance.
This market dynamic stands in stark contrast to the trends observed in the final months of the preceding year, according to analysts.
Analysis of Trading Session Performance
Market analyst James Van Straten highlighted that Bitcoin briefly touched the $97,000 mark, reflecting an approximate 10% increase since the beginning of 2026. Van Straten attributed the primary impetus for this rise to the North American trading session. Data indicates that Bitcoin's cumulative gain during North American trading hours was around 8%. European trading sessions saw more modest gains of approximately 3%, whereas the Asian session acted as a significant suppressant of the overall performance.
This observed pattern presents a complete reversal of the market conditions seen at the end of 2025. During late November of the previous year, Bitcoin saw a depreciation of roughly 20% during North American trading hours, falling to approximately $80,000. Throughout the fourth quarter, selling pressure frequently intensified around the opening of US markets, coinciding with near-daily outflows from spot Bitcoin ETFs. In contrast, 2026 has seen the strongest returns immediately following the opening of US markets, a period that historically represented Bitcoin's weakest performance over the past six months.
Global Investor Influence
The analysis further elaborates that price movements during US trading sessions are not solely indicative of demand from US investors. This is due to the fact that price formation during these hours incorporates activity from both US-based exchanges and global platforms, such as Binance. Consequently, even with substantial gains observed during the US session, a negative premium might be present on exchanges like Coinbase. This suggests that demand could be predominantly originating from international investors outside the United States.