Bitcoin Loses Steam as Zcash and Worldcoin Rebound

The cryptocurrency market continues to be impacted by geopolitical tensions, particularly between the US and Iran over the Strait of Hormuz. Bitcoin has slipped below $63,000, struggling to break through its 50-day EMA at around $65,000.

Zcash and Worldcoin have emerged as top performers, sustaining gains over the last 24 hours. Zcash is trading above $500, with a bullish tone maintained as price holds well above its 50-day EMA near $465 and the 200-day EMA around $393.

The Moving Average Convergence Divergence (MACD) histogram for both coins remains in positive territory, hinting at improving short-term momentum. However, Zcash's RSI dips to 48, suggesting only modest directional conviction despite the broader downside structure.