[Data: Bitcoin weekend trading volume drops to 16% of total trading volume] Golden Finance reported that data from cryptocurrency research company Kaiko showed that the proportion of Bitcoin traded on weekends this year has dropped to a record low of 16%. The decline followed 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. Cryptocurrency is different from stocks. It 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. Kaiko senior analyst Dessislava Aubert said the decline in weekend trading is "a trend that has existed for many years, but ETFs have exacerbated this trend. Kaiko said that the proportion of Bitcoin traded between 3 and 4 p.m. on weekdays rose to 6.7% from 4.5% in the fourth quarter of 2023. This period of time is called the benchmark pricing window, during which ETF owners determine the price of Bitcoin and then use it to calculate the net asset value of the ETF.
