Kaiko: Bitcoin Weekend Volume Drops to 16% of Total Volume

Odaily News Data from cryptocurrency research firm Kaiko shows that the proportion of Bitcoin traded on weekends has fallen to an all-time low of 16% this year. The drop came after the launch of the spot Bitcoin ETF, which appears to have changed the Bitcoin trading schedule to make it more consistent with the schedule of traditional stock exchanges and reduce Bitcoin price volatility. Unlike stocks, cryptocurrencies 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 continued to decline from a high of 28% in 2019. The launch of the Bitcoin ETF may be one of the important reasons. Dessislava Aubert, senior analyst at Kaiko, said the decline in weekend trading is a trend that has been around for years, but ETFs have exacerbated it. (Bloomberg)