The crypto market started the week up 1%, near $2.18 trillion, as weekend dip buyers stepped in. Bitcoin (BTC) rose about 1% to $63,882 but stalled at resistance. Worldcoin (WLD) led the field, up more than 4% in a day.

Still, a looming stock selloff and the US-Iran talks now dominate the cryptocurrency news space and leave the rebound fragile.

In the news today:-

• Taiko lost about $1.7 million Monday after an attacker exploited its chain-state verification. It adds to more than 20 crypto hacks in June.
• Senator Cynthia Lummis says the CLARITY Act would stop prosecuting crypto developers for writing code. A Senate floor vote is still pending.
• JPMorgan warns that quarter-end rebalancing could trigger a $165 billion stock selloff. Hedge fund leverage now sits near multi-year highs.

The Crypto Market Cap Climbs, but Conviction Is Thin

The total crypto market cap sits near $2.18 trillion, up 1.08% on the day. The gain came as weekend dip buyers stepped in, since crypto trades while stock markets stay closed. It held up even after US-Iran talks supposedly fractured in Switzerland, reviving fears of a rough Monday open. So far, crypto has not sold off as the talks eventually materialized.

Even so, the move stalled right under resistance. The rebound looks technical, not driven by fresh demand. Price is testing the 0.236 Fibonacci zone, a level marking a shallow pullback of a prior drop, at $2.19 trillion.

The market lost that level last week, and reclaiming it is the first hurdle. A near-term local high near $2.72 trillion remains far off for now. If TOTAL reclaims $2.19 trillion, $2.22 trillion and then $2.29 trillion open up. If it loses the $2.12 trillion floor instead, $2.02 trillion comes back into view.

Bitcoin Rises Into Resistance on Fading Volume

Bitcoin trades near $63,882, up 1.02% on the day. The move tracks the same weekend buying that lifted the broader market. Yet BTC now behaves more like a tech stock than a safe haven, all thanks to the growing S&P correlation.

So a looming stock selloff could drag it down rather than spare it.

The unpredictable Iran component adds to that risk and now leads Bitcoin news this week. When Israel struck Iran this month, more than $1 billion in leveraged bets were wiped out in a day. For now, BTC has held up, but it ran into resistance at $64,704, the 0.236 Fibonacci level.

The catch is volume. Buying volume has faded since June 19, which explains why the push stalled there. Without a fresh surge, that resistance is likely to hold. Above it, the next targets sit at $68,180 and $70,992.

Below, support waits at $62,180, then $59,084. A daily close above $64,704 opens the upside. A close under $62,180 exposes $59,084.

Worldcoin (WLD) Leads the Rebound but Volume Lags

Worldcoin trades near $0.63, up 4.4% in a day, a top gainer among major tokens. The same weekend buying lifted WLD, but its own momentum did the heavy work. The token has climbed about 131% in a month inside a rising channel since late May. That run pushed it back above $0.61, the 0.236 Fibonacci level it had to reclaim.

Still, the rebound carries the same flaw as the wider market, since buying volume keeps fading. The 8-hour volume has thinned since June 15, so each push higher loses steam. A $0.72 high on June 17 was rejected on weak volume, proving the point. True strength likely needs a clean break above that $0.72 mark.

A move there would target the top of the channel. If WLD loses $0.61, support sits at $0.55, then $0.49. A drop under $0.49 would break the channel and turn the trend bearish. So $0.72 separates a run toward the channel top from a slide back toward $0.55.

Source: BeInCrypto