Bitcoin Is Becoming Part of a 24/7 Global Market Commodities made up 19% of RWA perp volume in July. By September, that share had jumped to 31.4%. The interesting part isn’t simply that traders can now trade oil or gold onchain. It’s where those trades are happening. Markets that once lived almost entirely on traditional exchanges are starting to show up alongside BTC, ETH and other crypto assets on the same 24/7 trading venues. That changes the environment around Bitcoin. A few years ago, most crypto liquidity stayed within crypto. Today, a trader can move between Bitcoin, gold, oil, stocks and indices without leaving the same trading infrastructure. It also brings Bitcoin closer to the macro world. An oil shock, a Fed decision or a sharp move in gold can affect positioning across these markets almost immediately. BTC is increasingly reacting to the same forces that drive traditional global assets. There’s another side to it. More markets also mean more competition for capital. When oil or gold volatility picks up, traders now have more places to deploy risk without leaving crypto rails. But the market around Bitcoin is getting much bigger. Crypto venues are no longer just for trading crypto. As more traditional assets move into the same 24/7 environment, Bitcoin is increasingly trading alongside global markets rather than in a market of its own.