The start of trading in New York appears to impact Bitcoin volatility much more than other stock markets.
Bitcoin (BTC) traders are changing their habits in 2020 — but volatility is still dominated by the start of New York stock market trading.
According to data currently circulating on social media, volatility for the largest cryptocurrency by market capitalization is highly correlated with the opening of United States markets.
US stock markets spike BTC volatility
By comparison, London and Asia stock market opens have considerably less of an impact on Bitcoin volatility.
“Can we just halt $BTC trading during Asia + Euro hours,” major trader Hsaka quipped, uploading the findings, which relate to the previous few days on US exchange Coinbase.
BTC/USD chart showing volatility at stock market opens.