This morning, Wrapped Bitcoin .
On April 10, Wrapped Bitcoin was well above the $40,000 support level at $43,286, but then it quickly fell late in the day and continued its plunge all through the following day.
The stablecoin tried to fight the loss over the next few days, pushing up past the $40,000 level on the 12th and then again on the 14th.
That is a serious drop off that indicates that investors are holding out to see if the market changes before they sell off their tokens.
WBTC is going to have trouble moving back to the $45,00 level right now, where it was earlier in the month.
All of that makes it difficult for Wrapped Bitcoin or Bitcoin to move back up anywhere near the all-time high they achieved last November.
Right now is a very unstable and volatile time for the market, especially for lower-ranked cryptos that don’t hold as much sway as Bitcoin and that don’t have the massive market cap of this major cryptocurrency coin.