Techub News reported that according to Bloomberg, according to data from cryptocurrency research company Kaiko, Bitcoin's weekend trading volume has dropped to 16% of total trading volume this year, the lowest level in history. Kaiko senior analyst Dessislava Aubert said that the decline in weekend trading volume is "a trend that has existed for many years, but ETFs have exacerbated this trend."
Data shows that the proportion of Bitcoin trading between 3pm and 4pm on weekdays increased from 4.5% in the fourth quarter of 2023 to 6.7%. This period of time is called the benchmark fixing window, during which Bitcoin ETF owners determine the price of Bitcoin and then use it to calculate the ETF's net asset value.
Kaiko said the collapse of crypto-friendly Silicon Valley Bank and Signature Bank in March 2023 also contributed to the drop in weekend trading volumes.
