Wrapped Bitcoin Down More Than 5% Within 24 hours
Portfolio Pulse from Benzinga Insights
Wrapped Bitcoin (WBTC) has seen a price decrease of 5.72% in the past 24 hours, continuing a week-long downward trend of 10%. Trading volume has increased by 33% over the past week, with the circulating supply rising slightly by 0.11%. WBTC's market cap is currently ranked #15 at $9.24 billion.
June 24, 2024 | 7:01 pm
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NEGATIVE IMPACT
Wrapped Bitcoin (WBTC) has experienced a significant price drop of 5.72% in the past 24 hours, continuing a week-long decline of 10%. Despite the price drop, trading volume has increased by 33% over the past week, and the circulating supply has risen slightly by 0.11%. WBTC's market cap is currently ranked #15 at $9.24 billion.
The significant price drop of 5.72% in the past 24 hours, along with a week-long decline of 10%, indicates a bearish trend for WBTC. The increase in trading volume suggests heightened market activity, but the overall negative price movement is likely to impact investor sentiment negatively in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100