The once-vogue strategy of holding Bitcoin overnight is losing some shine

Those who watch crypto charts closely may know that a hypothetical strategy of buying Bitcoin at the close and selling it at the next open has historically generated large returns. Yet recent weeks have seen him take a hit.

According to Jake Gordon of Bespoke Investment Group, the opposite of the so-called after-hours strategy, ie buying at the open and selling at the close of the US market, has outperformed over the past month. That hasn’t always been the case, with the bulk of the gains typically coming outside of normal US trading hours, a phenomenon market watchers have long watched and puzzled over.