Bitcoin Decreases More Than 6% Within 24 hours
Portfolio Pulse from Benzinga Insights
Bitcoin (BTC) experienced a significant drop of 6.11% in the last 24 hours, bringing its price down to $62,833.00. This decline is part of a larger negative trend over the past week, with a total loss of 12.0% from its previous price of $71,814.66. Despite the decrease in price, Bitcoin's trading volume has increased by 32.0% over the past week, while its circulating supply has slightly decreased by 0.18%, totaling 19.66 million coins. Currently, Bitcoin holds the #1 market cap ranking at $1.24 trillion.
March 19, 2024 | 3:00 pm
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Bitcoin's price fell by 6.11% to $62,833.00 in the last 24 hours, marking a 12% loss over the week. Despite the price drop, trading volume has increased by 32%, and the circulating supply slightly decreased.
The significant price drop of Bitcoin over the past 24 hours and the past week indicates a negative short-term impact on its value. The increase in trading volume suggests heightened activity, possibly as investors react to the price changes. The slight decrease in circulating supply could indicate a tightening of available coins, which might typically support price increases, but the current market sentiment appears to be bearish, overshadowing this factor.
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IMPORTANCE 90
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