(Source: https://twitter.com/sovystark007/status/1398960272686018562/photo/1)

Walking up or waking up, either way, bitcoin tends to go down on Saturdays...

Anyone else notice that bitcoin tends to be weak on Saturdays?

It's the weekend, which means bitcoin goes down...

I noticed a similar pattern over the last few months were bitcoin tends to be weak over the weekend.

This pattern started basically when bitcoin stopped going up around $60k.

And it appears I'm not the only one that's noticed this...

Our good friends at Binance have noticed the same thing:

(Source: https://twitter.com/cz_binance/status/1398640874939060224)

This is likely due to the Wall Street effect...

Unlike crypto, traditional financial markets aren't always open.

They are open on weekdays only and only for about 8 hours.

When there isn't that support from Wall Street, the price struggles.

While some are blaming Wall Street for the current downtrend, if Wall Street wasn't involved I think we would have already crashed even more.

Hopefully they start turning the buy-programs back on.

The carbon footprint narrative is going to take time to change and big money doesn't want to jump with that overhang currently.

Plus you know, the potential major tax hikes coming next year to crypto investors makes them want to lock those gains now while they have em just in case.