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Pi Network’s PI Token Slips Again as Bitcoin (BTC) Taps $81K: Weekend Watch

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Bitcoin’s price rebounded impressively from the dip to $79,000 on Friday and, although the volatility has remained mostly muted, it managed to climb gradually to $81,000 yesterday.

Most altcoins have turned red on a daily scale after the Saturday gains, but ETH, XRP, and BNB managed to remain above their key respective support levels.

BTC Tapped $81K

The business week began with substantial price volatility for the primary cryptocurrency, which rose past $80,000 on Monday for the first time since late January before it dumped to $78,400 after some reports that Iran had hit a US Navy vessel. However, the attacks were refuted by the US, and BTC quickly reclaimed the $80,000 level.

Moreover, the bulls stepped on the gas pedal in the following couple of days and pushed the asset to a new three-month peak at almost $83,000. After gaining $8,000 in a week or so, bitcoin was due for a correction and slipped to $79,000 on Friday.

Nevertheless, it bounced after that dip and reclaimed $80,000 yesterday after US President Donald Trump announced a three-day ceasefire between Ukraine and Russia. It even reached $81,000 briefly, but couldn’t stay there and now remains inches below that level.

Its market cap remains above $1.610 trillion on CG, while its dominance over the alts is north of 58%.

BTCUSD May 10. Source: TradingView
BTCUSD May 10. Source: TradingView

Alts Retrace

Most altcoins registered impressive gains yesterday, including some double-digit price pumps from mid-cap alts. Now, though, red dominates most charts. ICP and WLFI have dumped the most by 9%, followed by a 7.5% decline from ONDO. ZEC, XLM, LINK, HYPE, DOGE, and ADA are also well in the red.

SOL, BCH, and ETH are with minor gains, while UNI has added 3.5% and now sits above $3.85. Pi Network’s PI token was stopped once again at $0.18 for the second time in the past few weeks. It has now slipped to $0.175 after a 5% weekly decline.

The total crypto market cap has remained close to $2.8 trillion on CG.

Cryptocurrency Market Overview May 10. Source: QuantifyCrypto
Cryptocurrency Market Overview May 10. Source: QuantifyCrypto

 

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