Once-Hot Strategy of Holding Bitcoin Overnight Loses Luster (1)

Those who watch crypto charts closely might be familiar with the fact that a hypothetical strategy of buying Bitcoin at the close and selling it at the next open has historically netted big returns. Yet the past few weeks have seen it take a hit.

The opposite of the so-called after-hours strategy, meaning buying the open and selling at the US market’s close, has been outperforming over the past month, according to Jake Gordon at Bespoke Investment Group. That hasn’t historically been the case, with the bulk of gains typically coming outside of regular US trading hours, a phenomenon that ...