Coinbase Wrapped BTC

Today's state: Coinbase Wrapped BTC is trading at $64,342.00 with a $6.3 billion market capitalization (rank #36). The price moved +0.10% over the past 24 hours and is +1.00% over 7 days; the 30-day move stands at -0.20% and the 90-day at +0.00%.

Position vs cycle: This is an ordinary-depth correction that has, in past cycles, broken either way — frequently after a re-test of the prior high.

Volatility and structure: 30-day realized volatility of 23.9% annualized is low for an asset this size. Our composite multi-horizon Price Strength reads Neutral (50/100), with the timeframes pulling in different directions and no clean directional read.

To place CBBTC in the wider market, its 90-day return correlations against the two other largest layer-1s show whether it trades as crypto-market beta or on its own drivers. The Pearson figures across daily log returns:

• Bitcoin reference: +0.09 — a minimal positive relationship.
• Ethereum reference: +0.19 — a minimal positive relationship.
• Solana reference: +0.23 — a weak positive relationship.

When an asset correlates strongly with multiple majors, it is trading largely as market beta — the big caps set the direction and standalone outperformance is elusive. Weak or negative correlations instead signal idiosyncratic forces (its own news, sector rotation, narrative changes) capable of producing returns the broader market does not share.

Coinbase Wrapped BTC (CBBTC) is a cryptocurrency, traded on global digital-asset markets. It trades at $64,342.00 as of the latest update, with a 24-hour move up 0.10%, placing it at rank #36 by market capitalisation among all listed digital assets. Coinbase Wrapped BTC's current market cap stands at $6.28B, a figure used by traders, analysts and institutional desks to gauge relative liquidity and risk exposure across the crypto market.

On this page you'll find a live, daily-refreshed dashboard tracking Coinbase Wrapped BTC across multiple data sources — price history going back several years, on-chain activity where available, fundamentals like circulating supply and dilution, top exchanges by volume, technical analysis using moving averages and RSI, and an algorithmic short, mid and long-term forecast. All figures are pulled from public APIs and cached locally; nothing here is investment advice.

Coinbase Wrapped BTC lets holders of the underlying asset participate in DeFi or applications on a different blockchain while keeping exposure to the underlying. Wrapped versions of major assets are widely used as collateral, as liquidity for DEX pools, and as building blocks in structured DeFi products.

By market value, Coinbase Wrapped BTC sits at rank #36 — a top-50 asset. It currently trades about 49% below its all-time high of $125,954.00 set in October 2025.

Coinbase Wrapped BTC (CBBTC) is a wrapped asset: a token that represents another underlying asset on a different blockchain, issued under a custody or smart-contract guarantee. The underlying asset is held (or staked) by a custodian or protocol, and an equivalent amount of the wrapped token is minted on the destination chain. Burning the wrapped token releases the underlying.

Wrapped tokens are designed to track the underlying asset 1:1. Peg deviations occur when redemption is interrupted, when custody is questioned, or when DEX liquidity becomes thin. The metric that matters is not "price" but peg-to-underlying.

By market value, Coinbase Wrapped BTC sits at rank #36 — a top-50 asset. It currently trades about 49% below its all-time high of $125,954.00 set in October 2025.

Coinbase Wrapped BTC is used wherever the underlying asset is needed in a different on-chain environment: as DeFi collateral, as part of liquidity pools, as a yield-bearing alternative (in the case of staking derivatives), and as the substrate for structured products. It is rarely used for direct speculation — that demand goes to the underlying.

Daily volume runs at about 3.8% of market capitalisation ($239.70M in the last 24 hours), in the normal band for a coin of this size and supportive of orderly entries and exits.

Coinbase Wrapped BTC is a wrapped token — supply expands as more of the underlying asset is custodied (or staked, in the case of liquid-staking derivatives) and contracts as the wrapped tokens are burned to redeem. There is no independent emission schedule. The tokenomics question that matters is whether the underlying is fully backing the wrapped supply, which depends on the custodian or protocol design.

Investors should treat the wrapped-token supply as a measure of how much "demand for on-chain DeFi access to the underlying" exists at the current moment. Growing supply suggests rising demand for DeFi composability with the underlying; shrinking supply suggests the opposite.

At the macro level, the variables that move this asset class most are the direction of US interest rates, the supply of dollar liquidity, and the state of global risk appetite. Crypto has behaved like a long-duration, high-beta risk asset: it tends to rally when real yields fall and the dollar softens, and to sell off when liquidity tightens.

The cross-asset relationships worth watching: the dollar index (DXY), historically inversely correlated with crypto over longer windows; the 10-year Treasury yield, a proxy for the cost of risk capital; gold, which sometimes shares a "monetary hedge" framing with Bitcoin during regime changes; and the S&P 500, which during liquidity-driven moves often rhymes with crypto despite the "uncorrelated" narrative.

For Coinbase Wrapped BTC specifically, the macro variable that has empirically led price most often is global crypto-market liquidity — proxied by stablecoin total supply, futures open interest, and exchange volumes. When these expand, CBBTC tends to follow; when they contract, the relationship typically reverses. With a comparatively loose 90-day BTC correlation of +0.09, CBBTC has shown more idiosyncratic price behaviour than the average large-cap — its own catalysts can matter as much as the broad liquidity tide.

Risks are specific to wrapped assets: custody risk (the underlying may be compromised or seized), smart contract risk (mint/burn logic could be exploited), peg risk (the wrapped token can trade below par during stress), and protocol-specific governance risk (changes to the wrapping protocol may affect redeemability). Users should treat the wrapped token as exposure to the underlying plus the wrapper's risk surface.