Bitcoin (BTC) traders are changing their habits in 2020 - but with the start of the New York stock market trading, volatility still dominates the markets. According to data circulating on social media, the market value and volatility in the largest cryptocurrency are largely related to the opening of US markets.
US exchanges increase Bitcoin volatility
Compared to the US exchanges, London and Asian stock exchanges have significantly less impact on Bitcoin volatility. The big investor Hsaka, by uploading the previous few daily findings on the US exchange Coinbase, "Can we stop Bitcoin trading in Asian + Euro hours?" said.
BTC / USD volatility at the opening of exchanges. Source: Hsaka / Twitter
Other data from the chain analysis platform Skew confirm this trend. Turkey's clock at 19: 00, while England clock 16: 00 shows the busiest time of day for Bitcoin trading. In addition to Binance, Skew, using Coinbase, is the middle of the week; He found it to be more intense than the beginning or the end. On weekends, as is often noted, it is quieter.
Monthly BTC trading volume. Source: Skew
For example, in the last 30 days, COINBASE has seen an average volume of $ 6.5 million between 18:00 and 19:00. At 12, which is the quietest hour, he saw 2 million dollars. These times are around 12 pm Eastern Standard Time (EST); It comes 2.5 hours after the official opening of the New York markets.
The changing face of BTC trading
The data can reveal trends ranging from Bitcoin investors, possibly due to the increasing prevalence of institutions in the market. Last year, the volume of transactions of the most active period in terms of time of the night 4:00 Turkey, Britain had emerged clock research indicated that night, 1:00.
Research from the 2017-2019 average suggested that Asian traders had a noticeable effect at that time. Since then, the composition of the Bitcoin trading space has undergone a metamorphosis with larger players and more capital inflows. Bitcoin derivative markets continue to break volume and open position records in 2020.
