According to Odaily, research by cryptocurrency firm Kaiko indicates that the proportion of Bitcoin traded on weekends this year has dropped to a historic low of 16%. This decline occurred after the launch of a spot Bitcoin ETF, which appears to have altered the Bitcoin trading schedule to align more closely with traditional stock exchange hours, thereby reducing Bitcoin price volatility.
Unlike stocks, cryptocurrency 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 the volume of Bitcoin traded on weekends has been steadily declining from a high of 28% in 2019. The launch of the Bitcoin ETF could be a significant factor in this trend.
Kaiko's senior analyst, Dessislava Aubert, stated that the decline in weekend trading is a trend that has been present for several years, but the ETF has exacerbated this trend.