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When does the Bitcoin market close?
When talking about the “daily” candle, the day starts at midnight sharp (00:00:00) and ends at 23:59:59 UTC. But what exactly do we mean by “daily close” in the crypto world?
Despite the transactions occurring without interruption, we assess performance over a 24-hour cycle - this is the famous “daily close”. At 12:00 PM UTC, after a full day of trading, I often compare the current price of a cryptocurrency with its value exactly 24 hours ago.
The most active times to trade Bitcoin? Generally between 8:00 AM and 4:00 PM local time. It is during these periods that the transaction volume peaks in each region.
Regarding the candles, an important distinction: the daily candle closes and a new one opens with the first transaction after 00:00:00 UTC ( or at 00:00:14 if no transaction is finalized within the first 14 seconds ). For the weekly candle, it closes at the same time as the daily candle on Sunday.
I find these time mechanisms fascinating, although they may seem arbitrary to newcomers. Personally, I have noticed that these schedules deeply structure the psychology of the crypto markets.
Attention: this text contains personal opinions and does not constitute financial advice.