It seems that I am not the only one who feels that cryptocurrencies are becoming more and more like stocks. Foreigners have also discovered that the ups and downs trading cycle is becoming more and more like stocks, with sector differentiation and sector rotation, and more and more like stocks.
Kaiko: Bitcoin weekend trading volume drops to 16% of total trading volume
Data from cryptocurrency research company Kaiko shows that the proportion of Bitcoin traded on weekends this year has dropped to an all-time low of 16%. The decline came after the launch of the spot Bitcoin ETF, which appears to have changed the Bitcoin trading schedule to make it more in line with the schedule of traditional stock exchanges and reduced 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.
Kaiko senior analyst Dessislava Aubert said the decline in weekend trading is "a trend that has been going on for years, but ETFs have exacerbated it."
