> 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.
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.
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.