Data: Bitcoin's weekend trading volume drops to 16% of the total trading volume

cryptocurrency research company Kaiko's data shows 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 the spot Bitcoin ETF, which seems to have changed the timetable for Bitcoin trading, making it more in line with traditional stock exchange schedules and reducing 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 appears to be cooling down as weekend bitcoin trading volume has been steadily declining from a high point of 28% in 2019. The launch of a Bitcoin ETF may be one important reason for this trend. Dessislava Aubert, senior analyst at Kaiko said that the decline in weekend trading is "a trend that has existed for many years but was exacerbated by ETFs." According to Kaiko, between 3 p.m. and 4 p.m., weekdays' share of bitcoin trades rose from 4.5% in Q4 2023 to 6.7%. This period is known as benchmark pricing window when owners determine bitcoin prices during this time and use it to calculate net asset value (NAV) of their ETFs.