Wrapped Bitcoin Rises More Than 6% In 24 hours
Portfolio Pulse from Benzinga Insights
Wrapped Bitcoin (WBTC) has seen a 6.26% increase in price over the last 24 hours, reaching $37,379.00, continuing a weekly upward trend with a 5.0% gain. Despite a 33.0% decrease in trading volume over the past week, the circulating supply slightly decreased by 0.09% to 163 thousand, which is the total max supply. WBTC's market cap is currently ranked #16 at $6.12 billion.
November 15, 2023 | 7:01 pm
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Wrapped Bitcoin (WBTC) has experienced a significant price increase of 6.26% in the past 24 hours, indicating a strong short-term bullish trend.
The price increase of WBTC is substantial, suggesting increased investor interest and a bullish outlook in the short term. The decrease in trading volume could indicate a consolidation phase, but the price trend remains positive. The full circulating supply being in the market may suggest limited supply pressure. However, as WBTC is a cryptocurrency pegged to Bitcoin, its movements are highly correlated with Bitcoin's market dynamics.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100