Bitcoin had its most volatile weekend in a year on Thursday, March 14, reaching an all-time high of $72.760 before falling to a low of $64,550. As of press time, Bitcoin had recovered to trade around $68,300. However, multiple price swings between 3% and 7% were prevalent throughout the weekend.
Bitcoin has seen fairly stable weekend trading since the launch of the Bitcoin ETF in the US earlier this year, with most volatility occurring early in the week during US trading hours. However, further analysis of weekend periods throughout 2023 shows that flat weekends are the trend for most of 2023.
The vertical bars in the chart above represent Saturday and Sunday trading for Bitcoin throughout 2023 and 2024. Unlike this weekend, most weekends saw little price movement of more than 2-3%. Bitcoin’s Fear and Greed Index remains in ‘extreme greed’ territory, down a few points since last week’s high.
Across the broader market, a sea of green indicates positive movement over the past 24 hours, with most remaining positive over the past seven days. Most notable is Solana, which has led the market against Bitcoin with a dramatic 36% gain over the past week.
Dogecoin, Cardano and Ethereum are the only digital assets that have not recovered to regional highs over the past seven days. However, only Bitcoin and the BNB chain currently remain within 20% of their all-time highs.
As of press time, US markets would be down about 2% if prices remain at current levels over the next 16 hours.
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