Bitcoin struggles to hold the $70,000 level, dropping to $68,000 amid broader market declines. Most major altcoins, including Ethereum and Solana, have posted significant daily losses. In a notable exception, Pi Network’s PI token has surged by 13%, trading near $0.23 and defying the overall negative trend.
The cryptocurrency market faced broad declines as Bitcoin fell from $70,000 to fight for support at $68,000. This drop followed a volatile week where the asset initially plunged on geopolitical tensions before rallying to a monthly high.
Most altcoins followed Bitcoin lower, with Ethereum dropping below $2,000 and BNB falling under $630. The total crypto market capitalization shed over $50 billion in a single day, as data shows.
Pi Network‘s native token, PI, was a stark outlier with a 13% daily gain. It now trades near $0.23 for the first time in three months, standing out as one of the few gainers in the top 100 cryptocurrencies.
The article suggested “the ongoing protocol updates” may be the probable reason behind this performance. Meanwhile, other assets like Solana and XRP continued to see losses of several percent.
