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.
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