Kaiko: Bitcoin weekend trading volume has dropped to 16% of total trading volume

2024-06-30 15:33:52

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ChainCatcher news, cryptocurrency research firm Kaiko data shows that the proportion of Bitcoin traded over the weekend has fallen to a historic low of 16% this year. This decline occurred after the launch of the spot Bitcoin ETF, which seems to have changed the trading schedule for Bitcoin, aligning it more with traditional stock exchanges and reducing Bitcoin price volatility.

Cryptocurrencies differ from stocks in that they can be traded around the clock, even on Saturdays and Sundays. In the past, Bitcoin trading was notorious for its "crazy weekends," but this phenomenon seems to be cooling down, as Bitcoin weekend trading volume has continuously declined from a peak of 28% in 2019. The launch of the Bitcoin ETF may be one significant reason for this.

Kaiko senior analyst Dessislava Aubert stated that the decline in weekend trading is "a trend that has been present for years, but the ETF has intensified this trend." (Bloomberg)

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