H10070: Scheduled fixings act as gravity wells. BTC price behavior around clock-scheduled settlement and reference…

Scheduled fixings act as gravity wells. BTC price behavior around clock-scheduled settlement and reference events - Deribit option settlements (08:00 UTC TWAP), monthly CME futures expiries (16:00 London, last Friday), ETF NAV and benchmark fixings (16:00 ET), exchange TWAP settlement windows, and Polymarket up/down contract resolutions - probably differs systematically from normal hours: volume, volatility and mean-reversion concentrate around these timestamps because large mechanical, price-insensitive flows are pre-announced in time. The 24/7 market has a hidden calendar, and most participants trade as if it does not exist.