BTC Weekend. Certain changes associated with the landing of institutional funds on the market Bitcoin were predictable. A spill estimated in billions of dollars, with the hope of seeing BTC explode all records. Because the objective now envisaged is to smash the $200,000, at least. A palpable excitement, which makes us wonder what she did with it. monetary adoption associated with this emblematic cryptocurrency. Even more so with volumes which are in the process of align with the stock marketa far cry from unlimited opening 7 days a week, 24 hours a day.
BTC takes its weekends
The arrival of Spot Bitcoin ETF will permanently change the face of the sector cryptocurrencies. Because this decisive step coincides with dumping of institutional funds in an economy still under construction. And the negotiated amounts are already dizzying…
A paradigm shift still difficult to estimate, if we count other than in simple future profits. Because this will shake up all the benchmarks of a Web 3 ecosystem itself still complicated to determine. But the initial program is supposed to deliver decentralization, cryptocurrencies and unlimited access and open to all.
However, the first changes are already being felt. And it is very often through innocuous movements that major migrations end up taking place. Like, for example, with trading volume on the Bitcoin market increasing. align with the 5 day week. Because, remember, the stock market is not open during the weekend.
A notable fact, highlighted in the graphs of the Kaiko analysis structure. In fact, the proportion of exchanges carried out on the network of Bitcoin just reached its lowest level ever recorded. And spot ETFs have only been open since mid-January.
“Where have all the weekend crypto traders gone? The share of BTC traded on weekends has declined significantly over the past six years. So far in 2024, only 13% of all trades have been executed over the weekend. »
Towards an institutionalization of Bitcoin?
It must be understood that the Bitcoin market is nothing compared to the striking force of institutional funds, such as the giant BlackRock is taking everything. This is the reason why this change of calendar needs to be taken into account.
Indeed, as the Kaiko structure points out, this drop in activity during the weekend “suggests a deterioration of liquidity conditions » recurring over this period. Because the current 13% represents almost half of the 24% recorded in 2018.
“The decline suggests a deterioration in liquidity conditions during the weekends and could be explained by both increased institutional participation and a deterioration in market infrastructure. »
Kaiko
This is why some investors talk already from a “ institutionalization of trading on the BTC markets. » And the trend could well accelerate.
Barely Spot Bitcoin ETFs Approved, BTC Market Seems get in touch with Wall Street. A change in dynamics which does not prevent it from being considered by institutions as an effective shield against inflation. The question remains as to how the most popular cryptocurrency will be able to manage the success it triggers. A case to follow…