WalletConnect Token (WCT) has taken a hit, falling 5.6% in 24 hours. Let’s break down why:
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🔍 TL;DR
🪂 Airdrop Profit-Taking: After recent incentives for Solana users (Jupiter airdrop), many traders are cashing out.
📉 Low Liquidity: Trading volume dropped by 34%, showing less interest and fewer buyers.
🧱 Bitcoin Dominance: BTC now controls 64.6% of the market, making it harder for altcoins like WCT to shine.
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🔬 Deeper Look
1. Airdrop Hangover
WCT saw a short-term boost after the June 13 Solana airdrop, but now it's following a familiar pattern: price surges → traders sell → price drops. Volume is drying up fast (just $24M traded), meaning fewer people are speculating on it for now.
2. Bearish Momentum
📊 Price is trading below key averages: $0.302 vs 7-day ($0.318) & 30-day ($0.364).
📉 RSI at 40.46 — not oversold yet, but still weak.
🌀 Holding just above critical Fibonacci support. Next key level: $0.28.
3. Altcoin Chill
🔐 BTC dominance is rising, and that usually pulls attention (and money) away from altcoins.
🧠 Fear & Greed Index is neutral (55), favoring safer bets like Bitcoin right now.
🔗 WCT is moving in sync with BTC (correlation: 0.78), meaning if Bitcoin dips, WCT likely follows.
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🧭 What’s Next?
WCT is under pressure due to a combo of selling, weak liquidity, and the current Bitcoin-heavy market environment. It might find support near $0.28–$0.29. But for real upside, it needs fresh catalysts.
👀 Eyes now turn to Q3 2025 governance upgrades — could they spark a new wave of user activity and demand?
🚨 Big Bitcoin Move Incoming – Market Eyes Recovery! 🚨
According to Foresight News, a major shake-up just happened in the Bitcoin world. 🟠 Mike Alfred, founder of Alpine Fox LP, shared that a large OTC (over-the-counter) deal involving more than 8,000 BTC has been agreed upon with a major buyer.
That’s over $450 million in Bitcoin (based on current prices) quietly changing hands behind the scenes!
Why does this matter? 💡
🔹 These kinds of large transactions are often done off the public exchanges to avoid impacting the market price. 🔹 Mike hinted that this deal is likely to reduce selling pressure—meaning fewer big dumps could hit the market in the coming days. 🔹 As a result, he expects Bitcoin prices to rebound by Monday.
🧠 What this could mean for the market: When whales or big institutions scoop up BTC like this, it’s often seen as a bullish signal. Less supply = more upward pressure. Combine that with the recent stabilization around key levels, and the market might be setting up for a short-term rally.
Let’s watch closely—Monday could be interesting. 🚀
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Qubetics isn’t just hype—it’s solving real problems. With cross-chain functionality across Ethereum, BNB Chain, Arbitrum, Solana & more (via SWFT Bridge), it enables seamless dApp and smart contract interoperability. No bridging. No switching. Just smooth integration.
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