• Bitcoin loses $69,000 on Friday as the US considers sending ground troops to Iran, fueling inflation concerns among Fed officials.
• Risk-off sentiment prevails in the crypto market, with liquidations exceeding $300 million in 24 hours.
• Kite, Ethena, and Worldcoin led the downfall with double-digit corrections over the last 24 hours.

Bitcoin trades below $69,000 at press time on Friday, after losing over 3% the previous day amid fears of an escalation in the US-Iran war, which is gripping global financial markets. Kite (KITE), Ethena (ENA), and Worldcoin (WLD) are leading the losses, with double-digit corrections over the last 24 hours, as the broader cryptocurrency market suffered over $300 million in liquidations during the same period.

Top altcoins such as Ethereum (ETH), Ripple (XRP), and Solana (SOL) trade in the red, with 24-hour losses of 3% to 5%, reflecting intense downside pressure. The Fear and Greed Index by CoinMarketCap stands at 29 on Friday during early Asian hours, reaffirming the risk-off sentiment in the market.

Adding credence to market fears, CoinGlass data shows $329.50 million in liquidations over the last 24 hours, driven by $287.10 million in long liquidations, reflecting sell-side dominance. 

On the other hand, US President Donald Trump plans to extend his pause on attacking Iran by 10 days, as peace talks are going “very well,” according to Bloomberg. However, the Wall Street Journal reported on Thursday night that the US could be considering deploying 10,000 ground troops to the Middle East to expand Trump's military options.

The top US stock market indices dropped by over 1% on Thursday, while US oil prices rose to over $92. 

Additionally, the US Federal Reserve officials are worried about the long-term impact of the escalating US-Iran war.

Fed Governor Lisa Cook said, “I would argue that the inflation risk is greater right now as a result of the Iran war,” in a public event in New Haven, Connecticut. “With respect to the labor market, I see it as being in balance, but precariously so.”

The last Fed meeting on March 18 decided to keep the interest rate unchanged at 3.50%–3.75%, but growing concerns about higher inflation could tilt the odds toward a rate hike, changing the rate-cut narrative before the Middle East war started.

Top Losers: Kite, Ethena, and Worldcoin are at risk of further losses

Kite is up over 4% at press time on Friday, rising after a 19% decline the previous day. The near-term bias has turned bearish as KITE closed below the 23.6% Fibonacci retracement at $0.2064 on Thursday, measured from the $0.3125 high to the $0.1800 low.

Momentum shows steady downward pressure in the short term, with the Moving Average Convergence Divergence (MACD) line below its signal line and both lines hovering just below the zero line, while the negative histogram widens. The Relative Strength Index (RSI) at 46 reinforces this soft tone, indicating momentum is drifting below the neutral 50 mark without reaching oversold territory.

Looking down, the key support for KITE is at the March 19 low at $0.1800, followed by the 50-day Exponential Moving Average (EMA) at $0.1728.

On the upside, KITE should surpass the 100-day EMA at $0.2141 for an extended recovery to the 50% retracement level at $0.2405.

Ethena is trading below the $0.1000 psychological level at press time on Friday, after a 7% decline the previous day. The synthetic dollar token remains capped well below the descending 50-day EMA, which preserves a broader bearish bias with the 100-day and 200-day EMAs declining well above price to limit any recovery attempts.

Momentum has softened after last week’s rebound, as the MACD is below the signal line, hinting at fading upside pressure, while the RSI at 42 stays below the 50 midline and aligns with persistent selling control.

The key support for ENA remains at the recent low at $0.0941, where a failure would expose the S1 Pivot Point at $0.0838.

Immediate resistance emerges at the recent swing area around $0.1099, with the falling 50-day EMA at $0.1185 reinforcing this barrier. A daily close above this zone would be needed to challenge the R1 Pivot Point at $0.1345.

Meanwhile, Worldcoin dropped below $0.3000 on Thursday, down 10%. At the time of writing, WLD holds steady on Friday, suggesting an easier, least-resistance path to the downside.

Momentum confirms downside pressure, with the MACD holding below the zero line and its histogram slightly negative, while the RSI sits near 33, showing sustained bearish momentum without yet entering extreme oversold territory.

The initial support for WLD shows a massive downside risk toward the S2 Pivot Point at $0.2430.

Worldcoin would need to hold the S1 Pivot Point at $0.3211 to extend its recovery toward the 50-day EMA at $0.3795.

(The technical analysis of this story was written with the help of an AI tool.)