What Is UTC Time?
UTC, or Coordinated Universal Time, is a global time standard commonly used in cryptocurrency.
Unlike traditional financial exchanges that have specific operating hours, cryptocurrencies operate 24/7.
Using UTC as a standardized time simplifies matters since cryptocurrency users are spread across different time zones worldwide.
Insights and Timing Considerations
Traders, including those in the cryptocurrency market, often monitor Asian markets for insights and may base their trading decisions on the movements happening in that region.
A study conducted by Forbes Digital Assets in 2019 identified 4 p.m. UTC on Wednesdays as the most volatile timeframe for BTC across several exchanges.
During this time, Bitcoin’s volatility was 35% higher than the average for all time periods.
The research suggested that this heightened volatility could be due to it being in the middle of the workweek in the United States.