[Analysis] "Bitcoin: Individual accumulation active on Sundays… Trading is highest on Mondays"

Source
Uk Jin

Summary

  • On Sundays, Bitcoin is traded the second-most due to individual investors' P2P trades and installment-style split buying (DCA).
  • On Mondays, exchange settlements and institutional position adjustments are concentrated, producing the highest trading volume.
  • Recent daily average trading volume exceeds 400,000 transactions, which they said indicates network demand is robust regardless of price volatility.

Individual investors were found to trade Bitcoin (BTC) most on Sundays.

On the 3rd (Korea time), CryptoQuant contributor XWIN Research Japan said in a report, "After analyzing six months of on-chain data to identify Bitcoin's weekly rhythm, Sunday Bitcoin transactions totaled 433,000," adding, "this is the second-largest volume after Monday (440,000)."

The contributor analyzed, "On Sundays, P2P trades centered on individual investors, wallet-to-wallet transfers, and installment-style split buying (DCA) are active, while on Mondays exchange settlements and institutional position adjustments tend to concentrate."

Also, daily trading volumes from Wednesday through Friday remained at around 430,000 transactions.

The contributor explained that these indicators demonstrate robust network demand. He said, "An average daily transaction count exceeding 400,000 means network demand is robust regardless of price volatility," and "such sustained activity coincided with past accumulation phases and periods of fundamental strengthening."

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Uk Jin

wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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