WLD Dumps 10% After $52.5M Raise as BTC Struggles Near $64K
Bitcoin (BTC) faces renewed selling pressure after failing to hold gains near $67K. It dropped below $64K and is still struggling around $64K as of the latest update. The broader market also turned risk-off: Ethereum (ETH) slipped below $1,860, XRP is testing the $1.10 support area, and ZEC is down about 6% with renewed weakness under $500.
This comes after a strong rebound earlier in the week. BTC bottomed near $63,750 on Monday, then rallied to roughly $67,000 on Tuesday on reports of renewed ETF net inflows and whale buying. However, follow-through faded. After a Thursday dip to about $64,750 and a Friday attempt to bounce, BTC was pushed lower again when the U.S. President warned the EU about fresh tariffs.
Altcoin performance is mixed, but today’s biggest move is Worldcoin’s token (WLD), down more than 10% to about $0.34. The selloff follows the project’s announcement of a successful $52.5M fundraising effort to expand World ID infrastructure. Other notable losers include ONDO (-7%) and LIT (-6.3%), while HYPE is also weaker. XMR stands out with a modest gain, up about 2.4% to around $365.
Total crypto market capitalization fell by roughly $20B daily to about $2.28T.
Bearish
The article frames BTC as failing after a short-lived rally toward $67K, with price still stuck around $64K and dominance rising slightly. That combination—resistance overhead plus inability to regain momentum—has historically aligned with short-term downside bias, especially when macro headlines (tariff warnings) hit risk assets. Meanwhile, WLD’s >10% plunge despite a large $52.5M fundraiser suggests that “good news” from token/identity expansion is not enough to stop sell pressure; traders appear to be front-running or de-risking ahead of broader risk-off.
In the short term, this setup can keep pressure on BTC and spill into liquidity for large-cap alts (ETH, XRP, ZEC), making rallies more likely to fail. Longer term, ETF inflow narratives remain supportive, but the market currently looks fragile: without sustained breakout and follow-through, traders may wait for clearer confirmation before re-risking. Similar patterns—strong inflows followed by rejection near key highs—often lead to range trading that gradually turns downward until a new catalyst arrives.