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WLD Plunges 10% Despite $52.5 Funding Round, BTC Struggles at $64K: Weekend Watch

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After gaining several grand and peaking at $67,000 earlier this week, bitcoin faced an immediate rejection and dipped below $64,000, where it currently struggles.

Most larger-cap alts are also in the red on a daily scale now, with ETH slipping to $1,850, XRP fighting for the $1.10 support, and ZEC dropping by 6%.

BTC Falls to $64K

On the surface, the past week appeared quite positive for the primary cryptocurrency given the overall market sentiment. After dipping to $63,750 on Monday, the asset went on a highly successful run and soared to $67,000 on Tuesday evening for the first time in over a month. Some of the reasons behind this jump included renewed ETF net inflows and new purchases from whales.

However, the fragile market state failed to provide more rally support, and BTC went downhill in the following days. It dropped to $64,750 on Thursday, before it jumped by a grand on Friday morning. However, another rejection followed, which is rather typical for Fridays in the past several weeks, and BTC dipped by $2,000 after US President Trump warned the EU about a new set of tariffs.

Bitcoin has been unable to stage a notable recovery since then and remains struggling at around $64,000 as of press time. Its market capitalization has dipped to $1.285 trillion, while its dominance over the altcoins has rebounded slightly to 56.3%.

BTCUSD July 25. Source: TradingView
BTCUSD July 25. Source: TradingView

WLD Dumps

Worldcoin’s native token is the poorest performer today, plunging by over 10% to $0.34. Interestingly, this major decline comes after the project announced a successful fundraiser for $52.5 million to expand its World ID infrastructure. The other big losers today are ONDO (-7%), LIT (-6.3%), and ZEC (-6%). The privacy coin has dropped further away from the $500 mark.

The larger-cap alts are also in the red, albeit in a 1-2% manner. ETH is below $1,860, XRP is beneath $1.10, SOL is down to $74, while HYPE has slipped to $57. XMR continues to be among the few altcoins charting some gains. A 2.4% jump has pushed it to $365.

The total crypto market cap has lost around $20 billion daily and is down to $2.280 trillion on CG.

Cryptocurrency Market Overview July 25. Source: QuantifyCrypto
Cryptocurrency Market Overview July 25. Source: QuantifyCrypto

 

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