Bitcoin (BTC) investors seek to move past four consecutive Monday losses.
Over the past few weekends, the largest cryptocurrency has experienced significant award -volatility, driven by macroeconomic uncertainty, including geopolitical tensions, customs and rising global bonds. The weekend nervousness seems to have transferred to Mondays.
Data from Velo show the last three months Mondays and Thursdays have been the most negative days in the regular work week. On Sunday, however, stands out as the worst priesting day of the week with an average price drop of 1%. Overall, weekends work a little worst than weekdays in terms of performance.
Bitcoin has fallen over the past four Mondays, Coinglass shows data. It lost 0.31% on February 17, 4.6% on February 24, 8.5% on 3rd and 2.6% on March 10. It has fallen 30% fall from its highest highest at the end of January, coinciding with 10% slide in the S&P 500.
The S&P 500 has also experienced three consecutive Mondays with losses. It did not act on February 17 because of an American holiday.
Bitcoin trades only 1.4% higher over 24 hours, while the S&P 500 futures have become a bit negative. What happens then is someone’s guess.