Pi has dropped more than 30% in the last 24 hours. Profits made after Kraken’s listing have been largely wiped out.
The price movement of Bitcoin to $74,000 was quickly stopped, as it was in the previous attempt, and BTC is close to falling below $70,000 after the massive attacks against Iran.
Most altcoins are also in the red, with ETH falling below $2,100 and ADA dropping over 4% daily. CC is one of the few exceptions today.
BTC falls to $74,000
The rapidly escalating situation in the Middle East affects most Bitcoin price movements. Assets fell to $65,600 last Monday morning, when most legacy financial markets reopened for business after the second weekend of conflict. However, it quickly recovered and challenged $70,000 on Wednesday.
Although it initially failed, the very positive CPI numbers in February and Trump’s somewhat optimistic statements about the war brought it to $71,800. It initially stalled there and fell to $69,000, but went on the offensive on Friday.
In less than a day of trading, bitcoin hit a 10-day peak of $74,000. However, it was rejected immediately after reaching this line and fell to $71,000. The recent attacks, described as the most destructive in the Middle East region, pushed it to $70,000, a level the bulls are currently supporting.
Its market capitalization is down to $1.410 trillion, while its dominance over alts is just under 57% in CG.
PI Plummets
Pi Network’s original token has been the most volatile in the crypto industry lately, and the last 24 hours have reinforced that trend. However, now it is in the opposite direction. After rising to $0.30 yesterday, the token has dropped more than 31% on the major listing on Kraken, and it is struggling to stay above $0.20.
Meanwhile, most of the larger alternatives are also in red, but significantly less violent. ETH is below $2,100 after a 1.3% daily drop, and BNB is down to $650 after a 2% drop. XRP is struggling at $1.40, SOL has fallen to $87, while ADA has dropped more than 4%. CC declined overall corrections with a 5% increase to $0.155.
The total crypto market lost nearly $100 billion from yesterday’s peak and fell to $2.480 trillion in CG.
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