Bitcoin Falls More Than 4% In 24 hours
Portfolio Pulse from Benzinga Insights
Bitcoin (BTC) experienced a 4.55% decrease in price over the last 24 hours, falling to $69,889.00, despite a 5.0% gain over the past week. The trading volume has increased by 4.0%, while the circulating supply decreased by 0.56% to 19.65 million, representing 93.59% of its max supply. Bitcoin's market cap ranking remains #1 at $1.38 trillion.
March 14, 2024 | 7:01 pm
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NEGATIVE IMPACT
Bitcoin's price fell by 4.55% to $69,889.00, despite a recent upward trend. The trading volume increased by 4.0%, and the circulating supply decreased, maintaining its #1 market cap ranking at $1.38 trillion.
The short-term impact on BTCUSD is likely negative due to the significant 4.55% drop in price over the last 24 hours. This sudden decrease, despite a recent upward trend, could lead to a loss of investor confidence in the short term. However, the increase in trading volume and the asset's strong market cap position may mitigate some of the negative impacts.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100