Summary
TLDR: Weekend crypto trading is declining, with just 13% of Bitcoin transactions happening on Saturdays and Sundays in 2024. This is down from 17% last year and 24% in 2018. The decline is attributed to increased institutional participation and worsening market infrastructure. Offshore markets still see more weekend trading, but the introduction of Bitcoin spot ETFs may further deepen the gap between weekends and weekdays in the market structure.
Key Points
1. Weekend crypto trading is on the decline, with just 13% of Bitcoin transactions taking place on Saturdays and Sundays since the start of 2024.
2. The decline in weekend trading volume may be attributed to increased institutional participation and worsening market infrastructure.
3. The gap between weekends and weekdays could deepen further as Bitcoin spot ETFs gain traction and change the market structure, as these investment vehicles are only active during stock market hours.