Wrapped Bitcoin Falls More Than 4% In 24 hours
Portfolio Pulse from Benzinga Insights
Wrapped Bitcoin (WBTC) has experienced a 4.72% price drop over the last 24 hours, continuing a weekly decline of 9%. Despite increased trading volume, the circulating supply has slightly decreased. WBTC's market cap ranks it 17th at $6.08 billion.
January 23, 2024 | 3:02 pm
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NEGATIVE IMPACT
Wrapped Bitcoin (WBTC) has seen a significant price decrease and volatility, with a 4.72% drop in 24 hours and a 9% decrease over the week.
The price drop and increased volatility indicate a bearish short-term sentiment for WBTC. The increased trading volume suggests higher interest, but the decrease in supply and continued price decline could lead to further short-term bearish pressure.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100