Wrapped Bitcoin (WBTC) has experienced a significant downturn, dropping 7.51% against the US Dollar in the last 24 hours, underperforming the broader cryptocurrency market which saw a 6.14% decline. Over the past month, WBTC has fallen 21.74%, reflecting a bearish medium-term trend. Despite a 29.59% increase over the past year, the current sentiment remains negative, with the Fear & Greed index at 16, indicating extreme fear among investors. Technical indicators predominantly signal a bearish outlook, with 77% favoring a negative prediction. WBTC is trading below key moving averages, reinforcing the pessimistic market sentiment.