
The cryptocurrency market experienced a notable surge over the recent long holiday weekend, coinciding with the closure of traditional financial markets. Analysts highlighted this period as the 'best trading weekend of all time' for crypto, emphasizing the unique dynamics of having two distinct sets of financial markets operating simultaneously. While legacy markets were closed, crypto markets remained active, allowing for significant trading activity and developments. Observers noted that this situation underscores emerging risks associated with the separation of traditional and digital financial systems, particularly as the entire crypto cycle evolved during the closure of traditional markets.
Entire crypto cycle happened since tradfi markets were last open, what a weekend
The market action over this long holiday weekend has also showcased another emerging risk that will need to be addressed. We now have two sets of financial markets. As usual, crypto markets remained open. Meanwhile, traditional markets and banks were closed--cutting off sources…
State of the current crypto market after the shock of the weekend https://t.co/z5HSkB4DW3