The post Wall Street going open 24/7 is bad news for Bitcoin and the US economy appeared on BitcoinEthereumNews.com.

Wall Street is rewriting the rules, and not everyone’s excited. Plans are reportedly underway to stretch stock market hours to near 24/7 trading, and while that sounds like a good idea for this author and other night owls glued to trading apps, it spells bad news for Bitcoin and potentially for the US economy. The New York Stock Exchange (NYSE), which is the largest and most influential stock market in the world, wants to extend its hours from 4 a.m.–8 p.m. to a longer stretch of 1:30 a.m.–11:30 p.m. Already, in 2024, the SEC approved 24 Exchange (24X), a Bermuda-based group funded by billionaire hedge fund manager Steve Cohen’s Point72 Ventures. They plan to offer nearly continuous trading for stocks, leaving just one hour of downtime each day for system updates. Overnight traders are already running the show Robinhood’s late-night trading spike on Monday during DeepSeek’s short-lived rise, which triggered the second-highest volume in the platform’s overnight session, second only to the US presidential election. For Robinhood, this isn’t new. They’ve been offering overnight trading for the past 18 months. But the fact that this session ranked so high shows how deep the appetite for around-the-clock trading is. Retail investors, once known for checking their portfolios during lunch breaks, are now trading Amazon and Tesla at midnight from their couches. We’re using trading apps as easily as we shop online. The pandemic helped create this behavior after our hero, Roaring Kitty (Keith Gill), showed us what was possible. When the world was locked down, we found trading stocks as entertaining as binge-watching Netflix. And then we found Kitty’s live streams, where he kept talking about the market in such a fun and effortlessly cool way that it just had to draw us in, especially the Gen Zs. So even after…

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Filed under: News - @ January 31, 2025 8:23 pm