Bitcoin was once renowned for its frenzied weekend trading, but a significant shift occurred in 2024, with weekend trading volumes hitting an all-time low.
In 2019, 28% of Bitcoin transactions occurred over the weekend, but this figure has now dropped to just 16%, according to data from Kaiko.
Several factors have contributed to this decline. A major influence has been the launch of the physically-backed Bitcoin ETF, aligning ETF trading with traditional stock market hours despite the cryptocurrency market being open 24/7, thus boosting weekday trading activity.
Kaiko’s report highlights increased trading volume at stock market closes to accurately reflect reference prices. This trend has made this window the second most popular time for weekday Bitcoin trading, but not for weekends.
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As a result, weekend trading volumes have steadily declined since 2021, currently at their lowest historical levels.
Additionally, closures such as Signature and Silicon Valley Bank in October 2023 have affected weekend trading. These banks operate 24/7 networks crucial for large-scale cryptocurrency transactions, but their absence has reduced market makers’ willingness to trade during periods of low volume.
In recent months, Bitcoin’s price has shown relative stability as investors await key economic indicators and potential Fed rate cuts.
