Wrapped Bitcoin (WBTC) is an ERC‑20 token backed 1:1 with Bitcoin (BTC) that lets Bitcoin holders use their BTC liquidity within Ethereum and other smart‑contract ecosystems like DeFi, DEXs, and lending platforms.
Since WBTC tracks the price of Bitcoin very closely, it acts as a bridge between Bitcoin’s liquidity and DeFi utility, enabling BTC value to be used for collateral, yield farming, swaps and cross‑chain activity.
Today WBTC trades around ~$78,000–$71,000 USD, still far below its all‑time highs near $125K but aligned with broader Bitcoin price action.
Short‑term price action is influenced by crypto market sentiment, liquidity on exchanges, and BTC’s direction since WBTC generally mirrors Bitcoin’s moves.
Technical traders watch support near current levels and key psychological zone resistances if BTC regains broader strength.
As a core DeFi asset, WBTC offers both a store of Bitcoin value and programmable blockchain utility, bridging two major crypto ecosystems.
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