Worldcoin Drops 49% in a Fortnight as Liquidations Hit $8.3M

Worldcoin (WLD) has shed nearly half its value over the past two weeks, sliding from $0.7229 to $0.3686 — a 49% decline — amid a broader wave of leveraged liquidations across the crypto market. On Tuesday, June 30, approximately $410 million in leveraged positions were wiped out market-wide, with WLD accounting for $8.3 million of that total. Of those WLD liquidations, $8.06 million consisted of long positions, reflecting the heavy bullish bets that traders had placed on the altcoin.

Despite the sharp drawdown, technical analysis suggests that the higher-timeframe bullish structure for WLD remains intact. The token's rally above $0.65 in June produced a bullish swing structure break, and the subsequent correction has brought prices into the so-called 'golden pocket' — the zone between the 61.8% and 78.6% Fibonacci retracement levels — which is historically associated with potential reversals.

The On-Balance Volume (OBV) indicator has retreated to its June lows, and the Relative Strength Index (RSI) is approaching the oversold threshold of 30. However, the Chaikin Money Flow (CMF) is currently signaling short-term stability. Analysts caution that a CMF reading below -0.05, a break of the OBV local low, or a price drop beneath $0.333 would increase the probability of a bearish structural shift.

On the 4-hour chart, the most recent short-term impulse move to $0.723 originated from the $0.416 level. That support has since been broken with minimal resistance. The $0.333 level is now expected to be tested in the near term. Technical indicators across this lower timeframe have remained unanimously bearish throughout the two-week correction period.

Liquidation heatmap data from CoinGlass shows that most magnetic liquidity zones accumulated over the past month have already been cleared. The $0.348 zone is identified as the next key level to monitor. Analysts note that the sustained downward pressure, driven by consecutive rounds of forced liquidations and selling, may be approaching exhaustion.

Meanwhile, Bitcoin (BTC) posted a 4.73% bounce within the past 24 hours, recovering from a local low of $57,800 to reach $60,536, before pulling back to $60,048 at the time of writing. Given WLD's correlation to broader market sentiment, a potential BTC sell-off remains a key downside risk for the altcoin.

For traders, a reclaim of the $0.416 level is cited as a potential entry trigger on the long side. Swing traders and longer-term investors are advised to exercise caution, with the overall bias described as conditionally bullish pending confirmation from price action and momentum indicators.