Bitcoin's November sell-off concentrated in US trading hours

Bitcoin's sell-off in November was primarily concentrated during U.S. trading hours, Coindesk reported. The cryptocurrency fell approximately 30% during U.S. market sessions, while remaining relatively stable or experiencing only slight declines during Asian and European trading hours. Kyle Rodda, a senior market analyst at Capital.com, said that Bitcoin has consistently shown a high correlation with U.S. technology stocks. He explained that both are considered risk assets and are heavily influenced by the outlook for U.S. monetary policy, adding that both also see high participation from retail investors using significant leverage.