Pi Network’s PI Token Plummets Mysteriously as Bitcoin Faces Critical $70K Threshold—What’s Behind the Sudden Shift?
Just when you thought the crypto rollercoaster might be taking a breather, Pi Network’s token surprises everyone by tumbling over 30% in just 24 hours—poof! All those gains from the Kraken listing? Practically vaporized. Meanwhile, Bitcoin’s valiant attempt to hold the $74,000 line fizzled out as geopolitical tensions in the Middle East cast a heavy shadow, pushing BTC perilously close to sliding below $70,000. Most altcoins are echoing the gloom, with ETH dipping under $2,100 and ADA shedding more than 4% daily, save for a cheeky defiant CC bucking the trend. Is this just another blip on the crypto landscape, or are we witnessing the early tremors of a deeper market shake-up? Time, and a keen eye, will tell. LEARN MORE.
Pi has plunged by over 30% in the past 24 hours. The gains charted after the Kraken listing have been pretty much erased.
Bitcoin’s price rally to $74,000 came to a quick halt, as it did during the previous attempt, and BTC is close to breaking below $70,000 after the latest massive attacks against Iran.
Most altcoins are in the red as well, with ETH slipping below $2,100, and ADA dropping by over 4% daily. CC is among the few exceptions today.
BTC Slides Toward $74K
The quickly escalating situation in the Middle East continues to impact most of bitcoin’s price moves. The asset dipped to $65,600 last Monday morning when most legacy financial markets opened for trading after the second weekend of the conflict. However, it rebounded quickly and challenged $70,000 on Wednesday.
Although it failed at first, the rather positive CPI numbers for February and Trump’s somewhat promising remarks about the war sent it flying to $71,800. It was stopped there at first and dropped to $69,000, but went hard on the offensive on Friday.
In less than a whole trading day, bitcoin shot up to a 10-day peak of $74,000. However, it was rejected immediately after it touched that line and fell to under $71,000. The latest attacks, which were described as some of the most devastating in the Middle East region, pushed it toward $70,000, a level that the bulls are currently trying to defend.
Its market cap has declined to $1.410 trillion, while its dominance over the alts is slightly below 57% on CG.
PI Plummets
Pi Network’s native token has been the most volatile in the crypto industry lately, and the past 24 hours have solidified this trend. However, it’s in the opposite direction now. After rocketing to $0.30 yesterday on the hype of the big listing on Kraken, the token has plummeted by over 31% as of now, and it’s struggling to remain above $0.20 as of press time.
Meanwhile, most larger-cap alts are also in the red, but in a significantly less violent manner. ETH is beneath $2,100 after a 1.3% daily drop, and BNB is down to $650 after a 2% decline. XRP struggles at $1.40, SOL is down to $87, while ADA has dumped by over 4%. CC has defied the market-wide correction, with a 5% increase to $0.155.
The total crypto market cap has erased roughly $100 billion since yesterday’s peak and is down to $2.480 trillion on CG.
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