Who’s Selling? Here’s The Demographic Driving The Bitcoin, Ethereum, And Dogecoin Price Crash
Overview
Recent data has highlighted the demographic factors contributing to the decline in prices for Bitcoin, Ethereum, and Dogecoin. Key indicators, including the Coinbase BTC premium index, suggest that a significant portion of the selling pressure is rooted in the U.S. market.
The Demographic Behind the Price Crash
Crypto analyst Crypto Rover has pointed out that the U.S. trading session has been the weakest so far this month, leading to notable losses in Bitcoin, Ethereum, and Dogecoin. The data indicates that Bitcoin has experienced a loss during the U.S. session, which has also impacted the prices of other cryptocurrencies. In contrast, the European trading session has shown similar weakness, while the Asian session has remained relatively stable with minimal volatility.
Another crypto commentator, Bossman, has also noted that the U.S. market is primarily responsible for the ongoing sell pressure. He observed that every American trading session is characterized by significant selling activity, which is often followed by buying from Asian traders, creating a cycle of volatility.
Additionally, the opening of the U.S. stock market has been associated with increased price fluctuations in Bitcoin, Ethereum, and Dogecoin. Market commentator Zerohedge attributed this volatility to algorithmic trading activities that occur at specific times, suggesting that institutional investors are playing a crucial role in the current market dynamics. Recent data has indicated significant outflows from Bitcoin ETFs, further supporting the notion of intense selling pressure from U.S. investors.
Coinbase BTC Premium Index
The Coinbase Bitcoin premium index has shown a negative trend, reinforcing the idea that the majority of sell pressure is emanating from the U.S. market. A negative premium indicates that Bitcoin is trading at a lower price on Coinbase compared to the average global price, suggesting weakened demand among U.S. investors.
Crypto researcher Kyle Soska remarked that Bitcoin and Ethereum are experiencing a derisking event among U.S.-based entities, which likely includes both ETF investors and high-net-worth individuals. This trend points to a potential conclusion of the current selling phase, as historical data suggests that the market may be approaching a bottom.
Impact on the Crypto Market
- The U.S. trading session has been identified as the primary driver of recent price declines in Bitcoin, Ethereum, and Dogecoin.
- There is a cyclical pattern of selling in the U.S. followed by buying in Asia, contributing to market volatility.
- Institutional investors are significantly influencing market behavior, as indicated by substantial outflows from Bitcoin ETFs.
- The negative Coinbase BTC premium index signals weak demand from U.S. investors, further confirming the sell pressure.
- The current derisking event among U.S. entities may be nearing its end, based on historical market trends.
Updated: 11/21/2025, 3:23:04 PM
