Coinbase Wrapped BTC (CBBTC) is currently priced at $84,509, reflecting a 24-hour decrease of 5.52%. The daily range has seen fluctuations between a high of $90,028 and a low of $84,350, indicating significant volatility with a daily range percentage of 5.68%.

Trading volume over the past 24 hours stands at approximately $489.29 million, contributing to a volume-to-market cap ratio of 7.29%. The hourly moving averages reveal a consistent downward trend, with the 8-period SMA at $87,960.11, reflecting a decline of 3.92%, and the 21-period SMA at $88,626.35, showing a 4.65% decrease.

The 1-hour RSI is extremely low at 8, signaling potential oversold conditions, while the 7-day RSI at 42 indicates a neutral stance, suggesting no immediate overbought or oversold conditions. Over the last week, CBBTC has dropped by 4.94%, and its 14-day and 30-day price changes of -11.99% and -4.82% respectively, point to a sustained bearish trend.

The all-time high for CBBTC was recorded at $125,954 on October 6, 2025, which emphasizes the significant distance from current price levels. The persistent decline across multiple time frames, coupled with the low RSI metrics, suggests a lack of bullish momentum in the short term.

Given the technical indicators and recent performance trends, a cautious approach is warranted. The current oversold conditions may present a potential buying opportunity; however, the overarching bearish trend suggests that further downside could still be possible.

Rating: Hold. While the current price level may offer a potential entry point, the ongoing downward momentum and the broader market conditions necessitate a wait-and-see approach before committing further capital.