Bitcoin faced rejection at the $74,000 level for the second time in March, though the broader crypto market posted gains for the week. The standout performer was the artificial intelligence (AI) token sector, which surged over 20%, led by Bittensor (TAO) with a 48% weekly rally. However, tokens like Pi Network (PI) gave back their gains, highlighting a mixed performance across altcoins as Bitcoin defended key support.
Bitcoin encountered selling pressure at the $74,000 supply zone on Friday, March 13, marking its second rejection at that level this month. Despite this, both Bitcoin and most of the cryptocurrency market recorded positive weekly performance.
The defense of the $70,500 support level by Bitcoin bulls on Saturday is seen as a potentially positive signal for the week ahead. This could help maintain the recent momentum observed across many alternative cryptocurrencies.
Glassnode data showed the crypto AI sector yielded a 20.6% gain over the past week, making it the top-performing category. The Layer 2 tokens sector followed with a 10% cumulative market cap increase.
Within the crypto AI sector, Bittensor [TAO] was the strongest performer, rallying 48.1% in a week. The daily RSI was at 76 to show intense bullish momentum, and the OBV was making new highs to signal heavy demand.
Render [RENDER], DeXe [DEXE], and Artificial Superintelligence Alliance [FET] also posted remarkable weekly gains of 32.2%, 46.6%, and 31.4% respectively. Both FET and RENDER have reached a local supply zone that could impede their rallies.
The decentralized trading platform Hyperliquid reported $1.2 billion in daily volume, contributing to a 25% rally for its HYPE token. Geopolitical tensions when traditional markets are closed mean on-chain markets reflect risk signals earlier.
Other notable weekly winners included Official Trump [TRUMP], which rallied 33%, and Bitcoin itself, which defended the $70,000 psychological support. The Bitcoin Dominance metric also rose slightly over the period.
Conversely, Pi Network [PI] prices retraced all gains made over the past week, falling from a high of $0.299 to below $0.195. The price drop below local lows meant further losses were deemed likely.
NIGHT shed 9.7% despite a recent Spot listing on Binance and other bullish news. Memecore [M] was also unable to climb past its $1.57 mid-range resistance level.
Other notable weekly losers included Polkadot [DOT], Worldcoin [WLD], and OKB, which fell 1.86%, 3.79%, and 3.3% respectively. Their relative weakness was noted as a slight concern for holders.
