Worldcoin (WLD) differentiated itself from the overall crypto market with its sharp decline of 14% in the last 24 hours. While the average loss of the market remained at 9%, WLD’s much sharper depreciation drew attention to the project. The altcoin has been stuck in a horizontal band for months, despite its movement starting at $0.60 after its debut. The latest decline emerged as a result of a combination of both macro effects and project-specific negative developments.
Regulations, Token Lock Openings and Political Tensions Increased the Pressure
One of the biggest reasons for WLD’s sharp decline is the increasing regulatory pressure around the world. Finally, the Colombian government ordered the immediate deletion of all biometric data Worldcoin had collected in the country. While this decision dealt a heavy blow to the project’s activities, it also shook investor confidence.
On the other hand, the Philippines and Thailand issued official warning orders requesting the suspension of WLD operations. This situation directly affected the airdrop processes, which are one of the most important tools in the project’s new user acquisition.
The subsequent token unlocking of over 37 million units further increased the sales pressure. The fact that there are approximately 4.25 billion WLDs (42%) still unlocked keeps the possibility of long-term pressure on the market on the agenda.
The general structure of the crypto market also affected the decline. Bitcoin (BTC) 
$84,181.30 While its price lost strength just above the $80,000 level, WLD, like many altcoins, became part of a downtrend.
Promising Signs for Bulls in the Technical Outlook
On the technical side, Worldcoin has been trading below a downward sloping trend line for the past three months. Although this structure indicates that the medium-term decline is maintained, indicators present a different scenario in the short term.
Although the MACD indicator confirms that the selling pressure is strong, it does not show strong enough momentum for the price to fall below $0.60 again. Cumulative Volume Delta data is approximately -10.7 million dollars and shows that short positions are dominant.
However, there is an important detail in the charts: WLD price has reached the peak of the compression zone. Such structures generally indicate a major movement. In addition, the fact that there is over 1.5 million dollars of liquidity at the level of 0.63 dollars increases the possibility that the price may be pulled in this direction.
All these data indicate that WLD’s decline may end in the short term. If the price manages to stay above the main support, it is possible for the bulls to step in again.
On the other hand, on the day Worldcoin fell, an important development occurred for the crypto market in the USA. Some analysts state that data on Bitcoin spot ETF applications may be released by the SEC next week. While this situation created short-term volatility in Bitcoin and major altcoins, it also contributed to the decrease in the general risk appetite in the market. Projects with high regulatory sensitivity, such as WLD, were hit harder in this atmosphere.
