Most Volatile Weekend in a Year as Solana Dominates While Bitcoin Recovers

Bitcoin experienced its most volatile weekend in a year, slipping to a low of $64,550 after reaching a new all-time high of $72,760 on Thursday, March 14. At the time of writing, Bitcoin had recovered to trade around $68,300. Throughout the weekend, several price swings ranging between 3% and 7% were prevalent.

Since the launch of Bitcoin ETFs in the US earlier this year, Bitcoin has seen relatively stable weekend trading, with the majority of volatility occurring early in the week during US trading hours. However, further analysis of weekend periods throughout 2023 reveals that flat weekends were a trend for much of that year.

The vertical bars on the charts above denote Saturday and Sunday trading for Bitcoin throughout 2023 and 2024. Most weekends saw little price movement beyond 2-3%, with the exception of this weekend. Bitcoin’s fear and greed index remains in the ‘extreme greed’ zone, although it has fallen a couple of points since last week’s heights.

Across the broader market, a sea of green denotes positive movement over the past 24 hours, with the majority of assets remaining positive over the last seven days. The most notable performer is Solana, which has seen a dramatic 36% increase over the past week, rising against Bitcoin and leading the market.

Dogecoin, Cardano, and Ethereum are the only digital assets that have not recovered to near local highs over the past seven days. Currently, only Bitcoin and BNB Chain are within 20% of their all-time highs.

At the time of writing, the US market would gap down roughly 2% if the price remained at current levels over the next 16 hours.