Bitcoin struggled to maintain its footing above $70,000 following another failed attempt to surpass $71,000, influenced by geopolitical tensions in the Middle East. The top two gainers among large-cap alternative cryptocurrencies were Sky and Hype, which saw significant daily increases. Ethereum successfully defended its $2,000 support level, while Pi Network’s token gained momentum ahead of its listing on a major exchange.
Bitcoin fell below the $70,000 mark after a volatile session prompted by developments in the Middle East. The cryptocurrency had briefly jumped above $71,000 following a presidential statement that there was “practically nothing left to target” in Iran, but the bounce was short-lived. Its market capitalization remains just below $1.4 trillion while its dominance over alternative coins stays under 57%.
Most larger-cap altcoins posted minor daily gains as the total crypto market cap held steady at over $2.45 trillion. Ethereum managed to defend the $2,000 support level despite the broader market’s sluggishness.
The two top gainers from the largest 100 altcoins were HYPE and SKY. Hype surged by over 8% daily to reach a local peak of $37.
Pi Network’s native token, PI, received major adoption news as veteran exchange Kraken stated it would enable PI trading starting March 13. The asset gained almost 5% daily and peaked at $0.24 following the announcement.
