Blab Crypto
Crypto Market Pullback: Bitcoin Slides, Altcoins Contract, Worldcoin Faces 22% Weekly Decline
Over the past day, the cryptocurrency market has slipped into a pronounced sell‑off. Bitcoin’s price fell 3.55%, sliding from Monday’s high of $65,622 to $62,466. The broader altcoin market cap followed suit, down 3.85% from the same peak. Coinalyze data shows that open interest has contracted by 16.05%, a clear signal that speculative positions are being pared back.
Worldcoin (WLD) has borne the brunt of the downturn. The token peaked at $0.723 on Wednesday, June 17, and has since fallen 22.17% over the week. In the last 24 hours, WLD shed 1.5% of its value, a drop that mirrors the bearish pressure gripping the market.
At the end of May, WLD broke through a local high of $0.329 and then rallied to $0.654, surpassing the February peak. The daily close remained above that February level, hinting at a possible shift in swing structure. A retracement from $0.2267 to $0.7229 has been plotted, with Fibonacci support zones at $0.4748, $0.4162 and $0.3329.
On the four‑hour chart, the bullish structure is anchored in the $0.462–$0.518 range, the so‑called ‘golden pocket’ that traders watch closely. A break below $0.391 would collapse this bullish H4 structure and could trigger a deeper pullback toward $0.332. Current indicators on this timeframe lean bearish: the Relative Strength Index has fallen to 34, and the Chaikin Money Flow sits below –0.05, signaling capital outflows and selling pressure.
Bitcoin’s long‑term trend remains bearish, and a slide below $60,000 could ignite a more pronounced correction in WLD. While the recent retracement is part of the broader pullback, the clear support levels suggest that a rebound is still possible if the price can hold above the $0.4162 and $0.4748 Fibonacci levels.
Overall, the crypto market is contracting sharply. Bitcoin’s decline has dampened speculative interest, reflected in lower open interest and a shrinking altcoin market cap. Worldcoin, which had previously trended upward, is now in a steep correction phase. Technical analysis points to key Fibonacci supports, but a further decline in Bitcoin could deepen WLD’s retracement. Traders and investors should keep a close eye on these levels, as they will determine whether WLD can resume its upward trajectory or continue to slide.
The situation remains uncertain. Market participants will monitor for any signs of a Bitcoin rebound or a sustained drop below $60,000, as well as any developments that could influence Worldcoin’s support structure. Until then, the crypto market is likely to stay in a bearish phase.
Worldcoin (WLD) has borne the brunt of the downturn. The token peaked at $0.723 on Wednesday, June 17, and has since fallen 22.17% over the week. In the last 24 hours, WLD shed 1.5% of its value, a drop that mirrors the bearish pressure gripping the market.
At the end of May, WLD broke through a local high of $0.329 and then rallied to $0.654, surpassing the February peak. The daily close remained above that February level, hinting at a possible shift in swing structure. A retracement from $0.2267 to $0.7229 has been plotted, with Fibonacci support zones at $0.4748, $0.4162 and $0.3329.
On the four‑hour chart, the bullish structure is anchored in the $0.462–$0.518 range, the so‑called ‘golden pocket’ that traders watch closely. A break below $0.391 would collapse this bullish H4 structure and could trigger a deeper pullback toward $0.332. Current indicators on this timeframe lean bearish: the Relative Strength Index has fallen to 34, and the Chaikin Money Flow sits below –0.05, signaling capital outflows and selling pressure.
Bitcoin’s long‑term trend remains bearish, and a slide below $60,000 could ignite a more pronounced correction in WLD. While the recent retracement is part of the broader pullback, the clear support levels suggest that a rebound is still possible if the price can hold above the $0.4162 and $0.4748 Fibonacci levels.
Overall, the crypto market is contracting sharply. Bitcoin’s decline has dampened speculative interest, reflected in lower open interest and a shrinking altcoin market cap. Worldcoin, which had previously trended upward, is now in a steep correction phase. Technical analysis points to key Fibonacci supports, but a further decline in Bitcoin could deepen WLD’s retracement. Traders and investors should keep a close eye on these levels, as they will determine whether WLD can resume its upward trajectory or continue to slide.
The situation remains uncertain. Market participants will monitor for any signs of a Bitcoin rebound or a sustained drop below $60,000, as well as any developments that could influence Worldcoin’s support structure. Until then, the crypto market is likely to stay in a bearish phase.
