Wrapped Bitcoin Falls More Than 4% In 24 hours
Portfolio Pulse from Benzinga Insights
Wrapped Bitcoin (WBTC) experienced a 4.21% decrease in price over the last 24 hours, falling to $69,965.00, despite a 3.0% gain over the past week. The trading volume and circulating supply of WBTC also saw declines, with the trading volume dropping by 4.0% and the circulating supply decreasing by 0.17% to 155 thousand. WBTC's market cap ranking is currently #18 at $10.87 billion.
March 14, 2024 | 7:02 pm
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NEGATIVE IMPACT
Wrapped Bitcoin (WBTC) fell by 4.21% in the last 24 hours to $69,965.00, with a decrease in trading volume and circulating supply, despite a positive trend over the past week.
The short-term price drop of 4.21% in WBTCUSD, despite a positive weekly trend, indicates a potential negative impact on investor sentiment in the short term. The decrease in trading volume and circulating supply could further contribute to price volatility. However, the overall positive weekly gain suggests that the long-term outlook might still be positive, which is why the confidence level is not at the maximum.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100