Bitcoin price today dropped to $60,567, and following the weak trend over the weekend, this was not very surprising. The announcement that the return of MTGOX assets will begin in July negatively affected the short-term outlook across the market. Moreover, we must not forget the sales by the German government. So, what are the predictions for WLD Coin?
Worldcoin (WLD)
In futures trading, greater weaknesses are emerging following the decline in crypto currencies. A significant amount of long positions were liquidated. The size of open positions in WLD Coin futures trading has dropped to $98 million. This means that interest has returned to the point it was at in January 2024.
Since reaching an all-time high of $440 million in open positions at the beginning of March, it has been declining. By June, losses had reached 51% in just one month. The rapid erosion of investor interest is discouraging for WLD Coin. If positions in futures trading are weakening, liquidity decreases, investor interest drops, and the spot price is also expected to decline.
WLD Coin Price Prediction
Despite the weakening in futures trading, the funding rate remained positive at 0.01%. This indicates that the balance between long and short positions is maintained, with a slight dominance of bullish sentiment. When this rate remains positive and continues to increase, we assume that more investors are opening long positions for the related altcoin, indicating a bullish sentiment.
In spot markets, investors are receiving more bearish signals. For example, the Accumulation/Distribution (A/D) Line of WLD has been in a downtrend for about 1.5 months. Since the beginning of June, the indicator has dropped by 60%.
The A/D Line of an asset examines cash flow. The total inflow and outflow of money show the state of buying and selling pressure. If it is falling, the supply of the token exceeds the demand. Additionally, the Chaikin Money Flow (CMF) indicator for WLD Coin is at -0.29. A CMF value below zero (negative value) indicates an outflow of liquidity.
In this case, both indicators point to a risk of further losses. If the concerning scenario materializes, we could see a decline towards $2.5. However, a general increase in appetite triggered by a recovery on the BTC front could open the door to $3.13.
