Wall Street 24/7 Opens: The End of the Bitcoin Era? Stock Market Reforms Hide Risks

Wall Street is rewriting the rules of the game, and not everyone is happy about it. The New York Stock Exchange (NYSE) plans to significantly extend trading hours, and the U.S. Securities and Exchange Commission (SEC) has approved the operation of the 24X Exchange (funded by Steve Cohen’s Point72 Ventures) to facilitate nearly around-the-clock stock trading in 2024. This seemingly convenient move could reshape the entire market landscape—most notably for Bitcoin.

The Shift to 24-Hour Stock Market Trading: Bitcoin’s Unique Advantage Diminishing

For a long time, Bitcoin attracted investors largely because of its 24/7 trading feature—an advantage that traditional stock markets lack. But this edge is fading.

Charles Schwab has already begun offering after-hours trading for its most active clients, now enabling trading of over 500 stocks and ETFs. Robinhood’s overnight trading volume hit new highs during the DeepSeek controversy (second only to the US election period), demonstrating how strong retail investors’ desire for around-the-clock trading is. The question is: when Apple and Tesla can also be bought and sold at midnight, why choose the highly volatile Bitcoin?

Many investors once saw Bitcoin as the only outlet for 24-hour trading. Now, as traditional stock markets operate continuously, Bitcoin’s appeal as a “never-closing market” is significantly waning. In comparison, trading risks for NVDA or TSLA at night are much lower—they won’t plummet 15% overnight. Can Bitcoin make such a promise?

The Cost of Continuous Trading: Market Volatility Could Get Even Crazier

Behind the convenience lies significant risk. When markets truly operate 24/7, any sudden event anywhere in the world can instantly impact prices. Political turmoil in Asia, tech announcements from Silicon Valley, a billionaire’s midnight tweet—all could instantly sway Bitcoin’s price.

More dangerously, markets have no time to “digest” information. During traditional trading hours, investors still have the chance to analyze calmly. But in a 24/7 environment, the buttons for panic selling or frantic buying can be pressed in just fractions of a second. Price swings for stocks and Bitcoin could become more violent than ever before.

Particularly during low-volume nighttime and weekend trading, market manipulation becomes easier. Malicious actors will find it simpler to push prices sharply up or down, increasing opportunities for pump-and-dump schemes. Large asset managers like BlackRock are already worried—waking up to margin calls and nighttime crashes.

Wall Street’s Global Ambitions: Who Will the Doors Open For?

Extending Wall Street’s trading hours appears to be aimed at meeting retail investor demands, but in reality, it opens the gates for global capital. Investors from Tokyo, traders from Dubai—traditional US stock trading hours are inconvenient for them. With 24-hour access, foreign capital will continuously flow into the US stock market, making Wall Street a true global market hub.

It sounds promising, but the risks are a double-edged sword. More foreign investment means higher stakes. When black swan events like DeepSeek occur again, the chain reaction across global markets could be more intense and rapid. A stock market crash could instantly ripple worldwide, wiping out trillions of dollars.

The SEC and other regulators face unprecedented challenges. 24/7 trading means they need to monitor markets nonstop to prevent manipulation and fraud—an almost impossible task. As participation and trading frequency increase, malicious traders and market manipulators will find it easier to exploit the system.

Markets Never Sleep: The Economic Consequences Are Just Beginning

In the past, economic indicators were digested slowly. An 8:30 AM report would trigger market reactions after the opening bell. But in the 24/7 era, everything has changed. News from anywhere in the world can cause sharp swings in stocks, cryptocurrencies, and even bonds at midnight.

Traders are also forced to join the “never-rest” crowd. The pressure to monitor markets intensifies, and mental health issues could become a new industry crisis. Market correlations are also increasing—Bitcoin and stocks are moving more in sync, meaning a crash in one can immediately transmit to the other.

Most ironically: Wall Street is trying to replicate Bitcoin’s advantages but ignoring its costs. Continuous trading isn’t always beneficial. Sometimes, markets need rest, and investors need time to think. When all markets operate 24/7, no one can truly relax. This may not be progress but a trap that inches closer to market chaos. Bitcoin’s unique trait was its 24/7 availability, but now, this advantage is becoming the standard across the entire financial system—and bringing all the problems that come with it.

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