Bitcoin Decreases More Than 3% Within 24 hours
Portfolio Pulse from Benzinga Insights
Bitcoin (BTC) has seen a decrease of 3.85% in the last 24 hours, bringing its price to $64,222.00, despite a weekly uptrend of 5.0%. The trading volume has dropped by 48.0%, and the circulating supply has slightly decreased to 19.69 million, representing 93.76% of its max supply. Bitcoin's market cap remains the highest at $1.27 trillion.
April 24, 2024 | 7:00 pm
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Bitcoin's price drop of 3.85% to $64,222 indicates a short-term bearish trend, despite a 5% increase over the week. The decrease in trading volume and slight reduction in circulating supply could influence its short-term price movement.
The price decrease of Bitcoin by 3.85% in the last 24 hours, despite a weekly uptrend, suggests a short-term bearish sentiment among investors. The significant drop in trading volume by 48% could further exacerbate this trend, as lower liquidity often leads to higher volatility. The slight decrease in circulating supply, while not substantial, indicates a tighter market that could either lead to price stabilization or further declines depending on investor reaction. Given Bitcoin's role as a leading cryptocurrency, these factors are highly relevant to its short-term price movements.
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