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Pi Network’s PI Pumps After Big Listing, Bitcoin (BTC) Stalls Below $70K: Market Watch

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Bitcoin failed at over $71,000 once again yesterday after the latest volatile session prompted by the developments in the Middle East, and now struggles below $70,000.

Most larger-cap alts have posted minor gains on a daily scale. ETH has managed to defend the $2,000 level, while HYPE has jumped to $37 after an 8% increase.

BTC Beneath $70K Again

After last Wednesday’s rejection at the monthly peak of $74,000, bitcoin headed straight south in the following days. Although it remained around $68,000 over the weekend, it dipped to $65,600 on Monday morning when most legacy financial markets opened.

The bulls finally intervened after this decline and helped the asset recover over five grand by Tuesday, when it jumped to nearly $72,000. However, it couldn’t keep climbing and dipped to $69,000 on Wednesday. The US CPI numbers came out, matching expectations, and BTC remained relatively still below $70,000.

A few hours later, though, it jumped above $70,000 and even $71,000 briefly after the POTUS 说过 there’s “practically nothing left to target” in Iran. That was a short-lived bounce, though, as bitcoin has lost the $70,000 since then and now struggles just below it.

Its market capitalization remains inches below $1.4 trillion on CG, while its dominance over the alts is still beneath 57%.

BTCUSD Mar 12. Source: TradingView
BTCUSD Mar 12. Source: TradingView

PI, HYPE, SKY Jump

Most larger-cap alts have remained relatively sluggish daily, with the big news coming from ETH, which managed to remain above the coveted $2,000 support. HYPE has outperformed its competitors, skyrocketing by over 8% daily to a local peak of $8.50. TAO and SKY are the other notable gainers from this cohort of alts.

Pi Network’s native token received major adoption news from Kraken, as the veteran exchange 说过 it would enable PI trading as of March 13. The asset remained flat at first, but it has gained almost 5% daily and peaked at $0.24 minutes ago. It’s among the few alts with massive double-digit gains over the past week and month.

The total crypto market cap has remained relatively still since yesterday, currently sitting at just over $2.450 trillion on CG.

Cryptocurrency Market Overview Mar 12. Source: QuantifyCrypto
Cryptocurrency Market Overview Mar 12. Source: QuantifyCrypto

 

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