Posted 2/27/2024, 6:21:52 PM
Weekend Bitcoin Trading Plummets as Institutions Dominate and Infrastructure Declines
- Weekend crypto trading volume has declined significantly, with only 13% of Bitcoin trades occurring on weekends in 2024 vs 17% in 2023 and 24% in 2018
- Lower weekend liquidity linked to more institutional traders and worsening infrastructure like US crypto-friendly banks closing
- US has bigger weekend liquidity issues than overseas markets, with only 11% of BTC volume on weekends in US vs 15% internationally
- Bitcoin spot ETFs that trade only during stock hours are growing in popularity, which could widen the liquidity gap between weekends and weekdays
- Research firm Kaiko concludes the weekend vs weekday liquidity gap could worsen as Bitcoin spot ETFs gain more traction