On August 30, LongHash released an analysis article saying that there were significant regional differences in this year's bitcoin bull market. The bullish sentiment of US traders is much higher than that of Asian traders, at least the data is shown. Combining Bitcoin's daily price-yield 10-day moving average chart for working hours in different time zones, when considering the average daily rate of return for different time zones, you will find that, in general, Bitcoin has almost no price during Asian trading hours. The increase, almost all rising prices occurred in the US trading hours. In addition, looking at the bitcoin premium relationship between Coinbase and OKCoin, except for two very short periods in late April and late May, the price of Bitcoin on Coinbase is mostly positive. Second, the two biggest bull markets this year, one in early May and the other at the end of June, coincided with a sharp rise in the bitcoin premium on Coinbase. This shows that this bitcoin bull market is driven by American buyers.