Wrapped Bitcoin Down More Than 4% Within 24 hours
Portfolio Pulse from Benzinga Insights
Wrapped Bitcoin (WBTC) has seen a 4.46% decrease in price over the last 24 hours, continuing a negative trend from the past week with a 9.0% loss. The trading volume has decreased by 62.0%, and the circulating supply has slightly decreased by 0.14%. WBTC's market cap is currently ranked #17 at $6.49 billion.
January 19, 2024 | 3:01 pm
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NEGATIVE IMPACT
Wrapped Bitcoin (WBTC) has experienced a significant price drop and decrease in trading volume, indicating a bearish trend in the short term.
The price of Wrapped Bitcoin (WBTC) has fallen substantially, which is typically a negative indicator for short-term price movement. The decrease in trading volume suggests lower investor interest and could further dampen price recovery in the short term. The slight decrease in circulating supply is not significant enough to counteract the negative price trend.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100