The cryptocurrency market is witnessing a significant shift in Bitcoin's trading patterns. According to Kaiko, a cryptocurrency research firm, Bitcoin's weekend trading has dropped to a historic low of 16%. This decline is attributed to the introduction of spot Bitcoin ETFs, which have aligned Bitcoin's trading schedules with traditional equity markets.

The impact of spot Bitcoin ETFs on Bitcoin's trading is evident. Launched in early January, these ETFs have caused a stir in the market, leading to a surge in Bitcoin's price. However, they have also resulted in a decline in weekend trading, as they follow traditional stock schedules and do not trade on weekends. This shift has led to an increase in Bitcoin trading on weekdays, particularly between 3 p.m. and 4 p.m.

External factors have also contributed to the decline in Bitcoin's weekend trading. The collapse of Silicon Valley Bank and Signature Bank in March 2023 hindered market makers' ability to buy and sell Bitcoin over weekends. Additionally, the market's focus has shifted towards structured trading schedules, leading to a reduction in the typically volatile weekend trading environment.

The decline in weekend trading has not affected Bitcoin's price, which has shown resilience and maintained a 45% increase this year. However, the shift towards weekday trading aligns with traditional equity schedules, indicating a significant change in the market's dynamics.

In conclusion, Bitcoin's weekend trading has hit a historic low due to the influence of spot Bitcoin ETFs and external market factors. While this shift may indicate a more structured trading environment, it also highlights the impact of traditional markets on the cryptocurrency space. As the market continues to evolve, it remains to be seen how Bitcoin's trading patterns will adapt to these changes.