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Bitcoin Price Holds Above $64K, Pi Network’s PI Token Digs New Lows: Weekend Watch

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Bitcoin’s gradual recovery took the asset to and just above $64,000, and it has been able to maintain that level for the past 24 hours or so.

Most larger-cap altcoins are slightly in the green on a daily scale, but they have mostly remained sideways since yesterday.

BTC Sustains $64K

The primary cryptocurrency reacted well to the July 1 dump below $58,000 when it marked a new multi-year low. It rebounded quickly to reclaim the $60,000 level and jumped to $63,000 during the previous weekend. It bounced to $64,000 on Monday before Strategy announced its biggest BTC sale ever, disposing of over 3,500 units.

The immediate FUD resulted in a nosedive to $61,200. However, the asset jumped hard in the following hours and challenged $64,500. Another rejection took place after the US and Iran initiated new attacks against each other, and bitcoin slipped to $61,500.

Nevertheless, the bulls appeared more persistent this week and, perhaps driven by positive net inflows into the spot Bitcoin ETFs, helped the asset recover to over $64,000 on Friday. After a minor dip below that level, BTC is back at it again, trading inches above it.

Its market capitalization has climbed to almost $1.290 trillion on CG. Its dominance over the alts, though, has taken a hit and is down to 56.3% from 56.6% just days ago.

BTCUSD July 11. Source: TradingView
BTCUSD July 11. Source: TradingView

PI’s Lows

Pi Network’s native token simply cannot catch a break these days. It continues to chart consecutive all-time lows, and the latest came a couple of days ago at $0.09663 (CoinGecko data). Although it has rebounded by just over 2%, it still struggles below $0.10.

Most larger-cap alts have remained sideways on a daily scale. ETH is close to $1,800, BNB has neared $580, while XRP fights for $1.10. In contrast, SOL is below $80, while HYPE has dropped further away from $70 after a 2.7% decline.

BEAT has outperformed the rest of the top 100 alts, soaring by 30% to almost $3. In contrast, BDX and MORPHO have plummeted by 9% daily.

The total crypto market cap has remained at around $2.280 trillion, showing no major change since yesterday.

Cryptocurrency Market Overview July 11. Source: QuantifyCrypto
Cryptocurrency Market Overview July 11. Source: QuantifyCrypto

 

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