Coinbase Wrapped BTC (CBBTC) is currently priced at $85,819, reflecting a 24-hour decline of 2.13%. The asset has experienced a daily range of $4,475, with a high of $89,885 and a low of $85,410, indicating significant intraday volatility.

Trading volume stands at approximately $491.55 million, representing a volume-to-market cap ratio of 7.84%. This suggests a healthy trading activity relative to the market capitalization, although the recent downtrend may indicate weakening buyer interest.

The short-term moving averages are all below the current price, with the 8 SMA at $87,000.34, the 13 SMA at $86,837.63, and the 21 SMA at $87,082.12, all showing declines between 1.17% to 1.45%. The longer-term 144 SMA at $89,096.89 is also down by 3.68%, reinforcing bearish momentum in the market.

The 1-hour RSI is currently at 39, indicating that the asset is approaching oversold conditions. The 7-day RSI at 40 supports this notion, but both suggest that a reversal may not be imminent as they remain firmly in bearish territory.

Over the past week, CBBTC has declined by approximately 7.81%, while the 14-day and 30-day changes are also negative at -7.71% and -6.42%, respectively. This consistent downward trend highlights a lack of bullish sentiment and potential resistance at higher price levels.

With the all-time high of $125,954 recorded on October 6, 2025, the current price represents a substantial decline from historical peaks. Given the bearish indicators and recent price action, market participants may face continued pressure as the asset struggles to regain upward momentum.

Considering the current technical indicators, volume trends, and ongoing bearish sentiment, a Sell rating is warranted. Investors should monitor for potential support levels or signs of reversal before considering re-entry into the market.