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    Home ยป This is the Hottest Time for Bitcoin Trading
    Bitcoin

    This is the Hottest Time for Bitcoin Trading

    By adminJul. 1, 2024No Comments2 Mins Read
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    This is the Hottest Time for Bitcoin Trading
    This is the Hottest Time for Bitcoin Trading
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    Bitcoin, once known for its frenzied weekend trading, has undergone a significant change in 2024, with weekend trading volumes hitting an all-time low. In 2019, 28% of Bitcoin trading occurred over the weekend, but now this figure has dropped to just 16%, according to Kaiko data.

    Several factors have contributed to this decline. A major impact was the launch of spot Bitcoin ETFs into the market. Although the cryptocurrency market operates 24/7, ETF trading aligns with stock market hours, leading to increased trading activity during the week.

    Kaiko’s report notes that trading volumes increase when the stock market closes to accurately reflect reference prices. This trend has made this window the second most popular time for Bitcoin trading during weekdays, but not on weekends.

    Read more:

    What will investors do with Mt.Gox’s funds?

    As a result, weekend trading volumes have been on a downward trend since 2021 and are currently at historical lows.

    Furthermore, the closure of banks such as Signature and Silicon Valley Bank in March 2023 has impacted weekend trading. These banks had 24/7 networks for large cryptocurrency transactions, but their absence has reduced market makers’ willingness to trade during periods of low volume.

    In recent months, Bitcoin’s price trend has been relatively stable as investors await key economic indicators and the possibility of a Federal Reserve rate cut.

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