CryptoPi Network (PI) Sees 10% Daily Drop, Bitcoin (BTC)...

Pi Network (PI) Sees 10% Daily Drop, Bitcoin (BTC) Volatile at $84K (Market Watch)

-


The relatively calm weekend was disrupted yesterday with substantial volatility around the $84,000 mark after some large short positions opened on Hyperliquid.

Most altcoins are on a slight retracement today, while BNB has jumped by over 6%. PI, on the other hand, has dumped by almost 10%.

BTC Volatile at $84K

The previous business week went in a highly fluctuating manner, and it all started on Monday with a price slump from $86,000 to $80,000. After a brief recovery to $84,000, BTC headed straight south again on Tuesday and plunged to a four-month low of under $77,000.

Following this $9,000 decline in less than two days, BTC finally reacted positively and quickly reclaimed the $80,000 line. It kept climbing in the following days, especially after the positive US CPI data for February, and jumped above $85,000 on Wednesday.

However, that was another short-lived rally, and the momentum couldn’t be maintained. A drop to $80,000 followed, but BTC managed to defend that level and jumped to $84,000 over the weekend. Most of it was spent there, aside from a brief spike to $85,000 and a subsequent plunge to $82,000 after a trader opened a $366 million short on Hyperliquid.

As of now, BTC stands just under $84,000, with a market cap of $1.655 trillion on CG. Its dominance over the alts is at 58.6%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

BNB Up, PI Down

The biggest gainer from the larger-cap alts today is Binance Coin, which has jumped by over 5%. As a result, the asset now trades well above $630. In contrast, most other alts from this cohort are in the red.

ETH, XRP, ADA, and TRX are down by up to 1%, while SOL has plunged by over 3.5%. PI is the biggest loser, on the other hand, dumping by 10% to under $1.35.

More volatility comes from OKB and MNT, which have pumped by 5-6%, while TRUMP is down by 3%.

The total crypto market cap has declined by over $20 billion since yesterday and is well below $2.830 trillion on CG.

Cryptocurrency Market Overview. Source: Coin360
Cryptocurrency Market Overview. Source: QuantifyCrypto
SPECIAL OFFER (Sponsored)

Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

The Ugly Stepsister trailer has big The Substance vibes

"What if Wicked and The Substance had a grubby baby?" This was the headline for my review of...

Taking A Look At 2 Underdog Cryptos: When Will Crypto Go Back Up?

When will crypto go back up? Bitcoin, Ethereum, and Cardano consistently rank as the top cryptocurrencies by market...

Donald Trump Held Another Million-Dollar ‘Candlelight’ Dinner—With Elon Musk in Tow

An invitation to a “candlelight” dinner held this past Saturday at President Donald Trump’s Mar-a-Lago club asked prospective...

Poll: Low Support for Federal Crypto Spending; White House Fact Sheet Contradicts Survey

A recent survey by Data for Progress found that only about 10% of US voters want the Trump...

Advertisement

No Strategic Bitcoin Reserve in South Korea: Report

The United States government may be keen on owning and maintaining a digital asset stockpile, but not all...

Google revives talks to acquire Wiz at higher valuation

Google’s parent company Alphabet is again in advanced talks to acquire cloud cybersecurity startup Wiz, a person familiar...

Must read

The Ugly Stepsister trailer has big The Substance vibes

"What if Wicked and The Substance had a...

Taking A Look At 2 Underdog Cryptos: When Will Crypto Go Back Up?

When will crypto go back up? Bitcoin, Ethereum,...

You might also likeRELATED
Recommended to you