Bitcoin Cash Down More Than 4% Within 24 hours
Portfolio Pulse from Benzinga Insights
Bitcoin Cash (BCH) experienced a 4.4% decrease in price over the last 24 hours, falling to $269.73, despite a 15.0% gain over the past week. The trading volume for BCH has increased by 244.0%, while the circulating supply decreased by 0.12%, bringing it to 19.64 million. The current market cap for Bitcoin Cash is $5.29 billion, ranking it #20.
February 13, 2024 | 3:02 pm
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NEGATIVE IMPACT
Bitcoin Cash (BCH) has seen a 4.4% price decrease in the last 24 hours to $269.73, despite a recent 15.0% weekly gain. The trading volume surged by 244%, and the circulating supply slightly decreased.
The short-term price decrease of 4.4% in Bitcoin Cash (BCH) despite a recent upward trend and increased trading volume suggests a potential market correction or profit-taking by investors. The significant increase in trading volume alongside a slight decrease in circulating supply could indicate heightened market activity, possibly leading to increased volatility. However, the overall positive weekly gain and the substantial market cap position BCH as a resilient asset in the cryptocurrency market.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100