Bitcoin Decreases More Than 6% Within 24 hours
Portfolio Pulse from Benzinga Insights
Bitcoin (BTC) experienced a 6.19% decrease in price over the last 24 hours, marking a continuation of its 8.0% decline over the past week. The current price stands at $62,770.00. This downward trend is accompanied by a 52.0% drop in trading volume and a slight decrease in circulating supply to 19.66 million, which is 93.62% of its max supply. Bitcoin's market cap remains the highest at $1.23 trillion.
March 22, 2024 | 3:02 pm
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Bitcoin's price has decreased by 6.19% in the last 24 hours, with a week-long decline of 8%, and a trading volume drop of 52%.
The significant decrease in Bitcoin's price over both the last 24 hours and the past week, coupled with a substantial drop in trading volume, indicates a bearish short-term outlook for BTCUSD. The reduction in circulating supply, while indicative of a potential long-term value increase, may not immediately counteract the negative price momentum.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100