Wrapped Bitcoin Down More Than 3% Within 24 hours
Portfolio Pulse from Benzinga Insights
Wrapped Bitcoin (WBTC) has seen a price decrease of 3.23% in the past 24 hours, continuing a downward trend of 1.0% over the past week. Despite the price drop, trading volume has increased by 18.0%, while the circulating supply has slightly decreased by 0.05%. WBTC's market cap is currently ranked #15 at $9.21 billion.
July 05, 2024 | 2:59 pm
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NEGATIVE IMPACT
Wrapped Bitcoin (WBTC) has experienced a 3.23% price drop in the last 24 hours, continuing a week-long decline of 1.0%. Despite the price drop, trading volume has increased by 18.0%, while the circulating supply has decreased by 0.05%.
The price drop of 3.23% in the last 24 hours and a continued decline over the past week indicate a bearish trend for WBTC. The increase in trading volume suggests heightened market activity, but the decrease in circulating supply could indicate reduced liquidity. Overall, the short-term outlook for WBTC appears negative.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100