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‘Boring’ Bitcoin sends weekend trading volume to all-time lows

‘Boring’ Bitcoin sends weekend trading volume to all-time lows
Bitcoin's weekend trading volume hit an all-time low of 16% in 2024, influenced by the introduction of Bitcoin ETFs aligning trading hours with traditional exchanges. This shift has decreased price volatility, indicating Bitcoin's evolution into a more stable asset for investors.

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Bitcoin trading over weekends has declined to an all-time low of 16% this year, according to cryptocurrency research firm Kaiko. The drop is attributed to the launch of spot Bitcoin exchange-traded-funds, which has shifted the periods when Bitcoin is traded to be more in line with the schedule of traditional equity exchanges and has lowered its price volatility. The launch of Bitcoin ETFs has led to a record high in March, with the largest cryptocurrency still up about 45% this year to around $61,000. Unlike most crypto tokens, Bitcoin ETFs follow the schedule of the traditional stock exchange that they are traded on, which means no weekend trading. The collapse of crypto-friendly banks Silicon Valley Bank and Signature Bank in March 2023 is also contributing to lower trading volume on weekends. The institutional adoption of crypto through Bitcoin ETFs has led to drastically lower price volatility, indicating that Bitcoin is becoming a more mature asset.