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> losing $3,218.95 from its previous close It's interesting how the concept of limited trading hours is so ingrained that reporters continue to talk about "mar
by wcoenen 4y ago
> losing $3,218.95 from its previous close
It's interesting how the concept of limited trading hours is so ingrained that reporters continue to talk about "market close", even though it doesn't exist for crypto markets.
- okwubodu 4y agoWhen they say “close” it’s usually referring to the candle chart on some timeframe. In this case the previous 24h candle closed in the mid ~$26500s and dropped ~$3200.
- wcoenen 4y agoThe exact time is mentioned in the article. It is the NYSE closing time.
- jpgvm 4y agoIt does and it doesn't. Futures trade almost around the clock and yet the only time market moves are -really- solidified is during the US trading session when most of the liquidity is sloshing around. The reason for this is almost all assets are priced relative to other assets. Once the markets for bonds and equities open BTC will rapidly reprice according to movements in these markets so in a way it can't really change independently of them. It also trades on much greater volume during these hours so as a result the "real price", i.e the volume-weighted average price moves much more consistently during the normal market hours than say on the weekend.