Wrapped Bitcoin (WBTC) is currently trading at $89,671, reflecting a 3.07% increase over the past 24 hours. The daily range has seen significant volatility, with a high of $90,066 and a low of $86,102, indicating strong price movement within this period.

The trading volume stands at approximately $225.54 million, representing 2.01% of the market cap, suggesting a healthy level of activity and interest in WBTC. The hourly moving averages are trending positively, with the 8 SMA at $87,180.68 showing a 2.86% increase, supporting a bullish sentiment in the short term.

Technical indicators such as the 1-hour RSI at 69 indicate that WBTC is nearing overbought territory, which could suggest a potential pullback. Conversely, the 7-day RSI at 52 indicates that the asset is trading near its midpoint, suggesting a more neutral trend over the past week.

Over the last 14 days, WBTC has declined by 11.82%, and the 30-day change shows a significant drop of 22.6%. These longer-term declines should be considered against the backdrop of the recent short-term bullish movement, highlighting potential volatility and the need for caution.

With the all-time high of $125,932 established on October 6, 2025, WBTC remains substantially below this peak, indicating room for growth if market conditions improve. However, the recent performance data suggests that while there are opportunities for short-term gains, the longer-term trend remains bearish.

In summary, given the recent upward movement and strong volume, a cautious buy may be warranted for short-term traders. However, for long-term investors, the persistent downward trends over the past month signal potential risks, suggesting a hold rating until clearer bullish indicators emerge.