Coinbase Wrapped BTC (CBBTC) is currently trading at $89,362, reflecting a slight decline of 0.71% over the past 24 hours. The asset has experienced a daily trading range of $1,321, indicating moderate volatility, with a 24-hour high of $90,449 and a low of $89,128.

Volume for CBBTC stands at approximately $170.67 million, with a volume-to-market cap ratio of 2.64%, suggesting relatively low liquidity in the current market context. The hourly moving averages indicate a bearish trend, as the 8 SMA is $90,024.80 and declining, while longer-term averages such as the 144 SMA are at $91,108.87, also trending downward.

The Relative Strength Index (RSI) readings provide further insight into market momentum, with the 1-hour RSI at 29, signaling that CBBTC is potentially oversold in the short term. In contrast, the 7-day RSI at 49 suggests a neutral position, indicating a lack of strong buying or selling pressure over the past week.

Over the last 7 days, CBBTC has seen a marginal decrease of 0.067%, while the 14-day and 30-day price changes are more significant at -2.26% and -5.87%, respectively. This indicates a bearish trend in the medium to long term, particularly as the price is significantly below its all-time high of $125,954 recorded on October 6, 2025.

In summary, the combination of declining moving averages, low RSI levels, and negative price changes over various time frames suggests that CBBTC is currently in a bearish phase. Therefore, the recommendation is to Hold, as the asset may be oversold in the short term but lacks strong indicators for immediate recovery in the medium term.