Bitcoin's price swings are in the news again, as tweets from Elon Musk to headlines from China drove the cryptocurrency to slip from all-time highs achieved in Spring 2021. While Bitcoin's volatility is nothing new, some crypto investors believe Bitcoin tends to be more volatile on weekends. We examine this assumption in this report and discuss near-term catalysts that could drive further volatility.

BTC and ETH movements seem to be largely event-driven in recent periods. The top two cryptocurrencies have largely moved in response to headlines in 2021. This marks a shift in the past, in our view, during which prices would spike or tumble for seemingly no reason. This seems to support the notion that the market for these cryptocurrencies is becoming more efficient and robust.

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About the Author

Martin Gaspar Headshot
Martin Gaspar
Research Analyst

Martin is a research analyst at CrossTower. Martin has several years of experience in conducting fundamental research and cryptocurrency analysis. Prior to joining CrossTower, Martin was a fixed income research analyst at Wells Fargo Securities, where he helped support traders, salespeople, and buy-side clients through his actionable investment recommendations. He has a passion for crypto and has followed the space extensively since 2012. Martin holds a BA from Colorado College, where he graduated with Distinction in Economics.