Many beginners will notice a pattern: every night at 21:30 / 22:30 (daylight saving time), the cryptocurrency market suddenly 'comes alive', with significantly increased volatility. This is not a coincidence, but the result of global capital beginning to flow.
1. Why is the timing so 'accurate'?
Because this is the official opening time of the New York Stock Exchange and NASDAQ.
When the US stock market opens, it means:
The largest institutional capital in the world begins trading
Hedge funds and quantitative funds concentrate on entering the market
Risk assets uniformly enter the 'pricing phase'
2. Why does the cryptocurrency market react?
The core reason can be summed up in one sentence: the current cryptocurrency market has been partially 'taken over' by the traditional financial system.
Both are risk assets.
From the institutional perspective:
Tech stocks (NASDAQ).
Crypto assets (BTC, ETH).
Essentially the same type of asset: high volatility + high expected returns.
So, when the NASDAQ rises:
Risk appetite increases → funds are more willing to buy BTC.
When the NASDAQ dips:
Risk contraction → funds withdraw simultaneously.
ETFs open up funding channels:
Since the emergence of Bitcoin spot ETFs (like Bitcoin spot ETF):
Traditional institutions can buy BTC directly through US stocks.
BTC is included in asset allocation.
This brings a key change:
BTC = a 'liquid asset' that can be sold anytime.
When US stocks plummet:
Institutions may passively reduce their positions.
BTC will also be sold to cover margin calls.
3. One-sentence summary.
US stocks set the sentiment, the Fed sets the direction, and crypto amplifies the volatility.