Worldcoin Longs Face Wreckage Amid Ongoing Selling Pressure
Worldcoin's long positions have been severely affected by recent market developments. On September 24th, WLD experienced an 11% price drop during a period of high bull activity. This decline was driven by capital outflow from both the Spot and perpetual markets.
The data suggests that this selling pressure may persist, potentially forcing WLD's price even lower in upcoming trading sessions. The spot market saw significant inflows of $63.89 million, while the perpetual market experienced a net outflow of -$41.45 million. This indicates that investors are selling their assets in the Spot market at a faster rate than buying them.
Further analysis of the Funding Rate data shows a possible chance for recovery, but it remains uncertain. The negative Funding Rate and heavier long liquidations indicate elevated downside risks despite recent improvements. Investors may be attempting to stop hunt and further liquidate long positions before continuing downwards.