Bitcoin has declined by 2.92% over the past 24 hours, dropping to $29,182** according to [CoinMarketCap](https://www.coinmarketcap.com/) data. The leading cryptocurrency briefly fell below **$29,000 on Monday night, marking its lowest level in a month since June 21.
Ethereum also dropped by 2.1%, settling at $1,850. Meanwhile, altcoins are gaining market share as Bitcoin's trading volume continues to decrease.
Market Sentiment and Investment Flows
Last week, Bitcoin-related investments saw $13 million** in outflows, while the broader cryptocurrency market experienced **$6.5 million in withdrawals. Despite this, Bitcoin’s hash rate is rising, indicating strong network security and operational capacity.
Worldcoin’s Controversial Launch
Worldcoin’s token (WLD) surged 30% at launch but has faced criticism over:
- Centralization risks
- Privacy concerns
- Early backing by SBF, a controversial figure
👉 Why Is Worldcoin Facing Backlash?
Ethereum co-founder Vitalik Buterin has also raised questions about the project’s long-term viability.
Elon Musk and Dogecoin Speculation
A minor change in Elon Musk’s Twitter bio—adding an "X" (for Twitter’s rebrand) and "D" (interpreted as Dogecoin)—sparked rumors that DOGE could soon be integrated into Musk’s "everything app" payment system.
Regulatory Updates
Binance vs. CFTC
Cryptocurrency exchange Binance, along with CEO Changpeng Zhao (CZ) and former compliance head Samuel Lim, plans to file two motions to dismiss the CFTC’s lawsuit (filed in March 2023).
Optimism’s Technical Advancements
The Optimism ecosystem is developing a Proof system for its OP Stack, including:
- Fault Proof Program (FPP)
- Fault Proof Virtual Machine (FPVM)
- Dispute Game Protocol
FAQs
Q: Why is Bitcoin’s price dropping?
A: Market sentiment, ETF outflows, and macroeconomic factors are contributing.
Q: What are the risks with Worldcoin?
A: Privacy issues and centralized control are major concerns.
Q: Could Dogecoin become a payment method on Musk’s platform?
A: Speculation persists, but no official confirmation exists.
👉 Stay Ahead in Crypto with These Strategies
Key Takeaways
- Bitcoin and Ethereum show short-term weakness.
- Worldcoin faces scrutiny over transparency.
- Binance is challenging CFTC allegations.
- Optimism is advancing layer-2 security.
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