Bitcoin abandoned the United States during the 2022 bear market, new research suggests.on June 8, on-chain analytics firm Glassnode revealed some surprising conclusions about who is now using Bitcoin.The past year has seen some seismic shifts in where Bitcoin is held and traded.
Since mid-2022, the amount of the supply held and traded by U.S. entities has decreased by more than 10%. “A clear divergence is visible in the year-over-year BTC supply change based on geographical regions. The extreme dominance of US entities in 2020-21 has clearly reversed, with US supply dominance falling by 11% since mid-2022,” Glassnode researchers commented.
The past year has seen some seismic shifts in where Bitcoin is held and traded. In its latest analysis of the BTC supply, Glassnode measured its migration around the world — notably, away from the U.S. and toward Asia.
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