How does the NYSE holiday schedule affect the trading volume of cryptocurrencies?

1 answers

• Mar 20, 2022 · 3 years ago
  At BYDFi, we have observed that the NYSE holiday schedule does have an impact on the trading volume of cryptocurrencies. During NYSE holidays, we typically see a decrease in trading volume in the overall cryptocurrency market. This can be attributed to the fact that many traditional investors and traders who are active in both the stock market and the cryptocurrency market are away from their trading desks. However, it's important to note that the impact may not be uniform across all cryptocurrencies. Some cryptocurrencies may be more affected by the NYSE holiday schedule due to their correlation with traditional financial markets, while others may be less influenced. Overall, the NYSE holiday schedule can be a factor to consider when analyzing the trading volume of cryptocurrencies, but it's not the sole determinant.
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