Wrapped Bitcoin Down More Than 3% Within 24 hours
Portfolio Pulse from Benzinga Insights
Wrapped Bitcoin (WBTC) experienced a 3.91% decrease in price over the last 24 hours, now at $64,203.00, despite a weekly uptrend of 6.0%. Trading volume fell by 36.0%, while circulating supply slightly increased. WBTC's market cap ranks it 14th at $9.94 billion.
April 24, 2024 | 7:02 pm
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NEGATIVE IMPACT
Wrapped Bitcoin (WBTC) price fell 3.91% to $64,203.00 in the last 24 hours, despite a 6% increase over the week. The trading volume decreased by 36%, and the circulating supply is now 155 thousand.
The short-term price drop of 3.91% in WBTCUSD, despite a weekly gain, indicates a negative market reaction that could influence investor sentiment negatively. The decrease in trading volume alongside a slight increase in circulating supply suggests a potential decrease in demand or market interest, which could further pressure the price downward in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100