Wrapped Bitcoin Falls More Than 5% In 24 hours
Portfolio Pulse from Benzinga Insights
Wrapped Bitcoin (WBTC) experienced a 5.12% decrease in price over the last 24 hours, contrasting with a 1.0% gain over the past week. The trading volume for WBTC has decreased by 45.0%, while its circulating supply increased by 0.34% to 155 thousand, which is the total max supply. Currently, WBTC's market cap ranks it at #14 with a value of $10.40 billion.
April 12, 2024 | 7:02 pm
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Wrapped Bitcoin (WBTC) fell by 5.12% in the last 24 hours, moving against its recent upward trend. The decrease in trading volume alongside an increase in circulating supply could indicate a short-term bearish sentiment among investors.
The significant drop in price alongside a decrease in trading volume suggests a potential short-term bearish outlook for WBTC. The increase in circulating supply without a corresponding increase in demand could further pressure the price downward.
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IMPORTANCE 75
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