Bitcoin Rises More Than 5% In 24 hours
Portfolio Pulse from Benzinga Insights
Bitcoin's price has risen 5.21% to $27,485.00 over the past 24 hours, continuing its positive trend over the past week with a 5.0% gain. The trading volume for the coin has tumbled 38.0% over the past week while the circulating supply has risen 1.03% to 19.47 million, which makes up an estimated 92.72% of its max supply of 21.00 million. The current market cap ranking for BTC is #1 at $535.38 billion.
August 29, 2023 | 3:00 pm
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Bitcoin's price has risen 5.21% over the past 24 hours, continuing its positive trend over the past week. However, the trading volume has tumbled 38.0% over the same period.
The rise in Bitcoin's price indicates a positive short-term impact. However, the decrease in trading volume could suggest a lack of liquidity or decreased interest, which might affect the price stability. The increase in circulating supply could put downward pressure on the price due to increased availability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100