The post Worldcoin crashes 14% – Will regulatory crackdowns pull WLD further? appeared on BitcoinEthereumNews.com. Key Takeaways Why did Worldcoin decline 14% in a day?  Worldcoin crashed on the day due to increased regulatory crackdown, token unlocks, and bear market structure. Will WLD continue with the price weakness? The current momentum of WLD bears does not ascertain continuation of bear control, at least for the short-term, after such liquidations. Worldcoin crashed by more than 14% in the past 24 hours, becoming an outlier from the broader crypto market, which declined by about 9%. The altcoin has also been in a multi-month sideways movement since its initial surge from $0.60. Worldcoin price follows the broader market sentiment, though other external factors have amplified its decline. Political tensions, unlocks, and bear market structure were some key drivers of this decline. Why is WLD down today? To begin with, Worldcoin [WLD] continues to face regulatory crackdowns from across the globe, with Colombia being the new government to axe WLD’s services. They ordered immediate deletion of biometric data collected from the nation’s nationals. Additionally, the Philippines and Thailand released a cease-and-desist order. Worldcoin was to stop the operations, which was a big blow to users and receivers of the airdrop. The airdrop was a way to attract users to the chain, which was now operational. Furthermore, the unlock of more than 37 million WLD tokens valued at slightly above $25 million increased the sell pressure. As of press time, there was still about 42% locked, which was equivalent to 4.25 billion WLD coins. Source: Tokenomist Last but not least, WLD was driven by the overall bearish structure in the market. Most of the cryptocurrencies were declining, with Bitcoin [BTC] also a few thousand shy of the $80K mark. Will bears maintain dominance over bulls? On the charts, WLD was trading below a slanting trendline over the last three months,… The post Worldcoin crashes 14% – Will regulatory crackdowns pull WLD further? appeared on BitcoinEthereumNews.com. Key Takeaways Why did Worldcoin decline 14% in a day?  Worldcoin crashed on the day due to increased regulatory crackdown, token unlocks, and bear market structure. Will WLD continue with the price weakness? The current momentum of WLD bears does not ascertain continuation of bear control, at least for the short-term, after such liquidations. Worldcoin crashed by more than 14% in the past 24 hours, becoming an outlier from the broader crypto market, which declined by about 9%. The altcoin has also been in a multi-month sideways movement since its initial surge from $0.60. Worldcoin price follows the broader market sentiment, though other external factors have amplified its decline. Political tensions, unlocks, and bear market structure were some key drivers of this decline. Why is WLD down today? To begin with, Worldcoin [WLD] continues to face regulatory crackdowns from across the globe, with Colombia being the new government to axe WLD’s services. They ordered immediate deletion of biometric data collected from the nation’s nationals. Additionally, the Philippines and Thailand released a cease-and-desist order. Worldcoin was to stop the operations, which was a big blow to users and receivers of the airdrop. The airdrop was a way to attract users to the chain, which was now operational. Furthermore, the unlock of more than 37 million WLD tokens valued at slightly above $25 million increased the sell pressure. As of press time, there was still about 42% locked, which was equivalent to 4.25 billion WLD coins. Source: Tokenomist Last but not least, WLD was driven by the overall bearish structure in the market. Most of the cryptocurrencies were declining, with Bitcoin [BTC] also a few thousand shy of the $80K mark. Will bears maintain dominance over bulls? On the charts, WLD was trading below a slanting trendline over the last three months,…