PI Network’s PI Pumps After Major Listing, Bitcoin (BTC) Stalls Below $70K: Market Watch
Meanwhile, the top two gainers from the 100 alt today are HYPE and SKY.
Bitcoin failed above $71,000 again yesterday after a recent volatile session fueled by developments in the Middle East, and is now struggling below $70,000.
Most of the major alts posted small gains on the intraday scale. ETH managed to defend the $2,000 level, while HYPE jumped to $37 after an 8% increase.
BTC Under $70K Again
After last Wednesday’s rejection of the monthly peak of $74,000, bitcoin went straight south in the following days. While it hovered around $68,000 over the weekend, it fell to $65,600 on Monday morning when most financial markets opened.
The bulls finally intervened after this decline and helped the stock recover to more than five points on Tuesday, when it reached around $72,000. However, it could not continue to climb and sank to $69,000 on Wednesday. The US CPI numbers came out, as expected, and BTC remained below $70,000.
However, a few hours later, it jumped over $70,000 and even briefly $71,000 after POTUS said there was “nothing left to target” on Iran. That was a temporary bounce, however, as bitcoin has lost $70,000 since then and is now struggling below it.
Its market capitalization sits inches below $1.4 trillion in CG, while its dominance over alts is still less than 57%.
PI, HYPE, SKY Jump
Most of the major alts remained sluggish on a daily basis, with big news coming from ETH, which managed to stay above the coveted $2,000 support. HYPE outperformed its competitors, rising more than 8% daily to reach a local high of $8.50. TAO and SKY are the other notable gainers in this group of alts.
The traditional token of Pi Network received great news of the acquisition from Kraken, as the veteran exchange said that it will do PI trading from March 13. The stock remained low at first, but gained about 5% daily and reached $ 0.24 minutes ago. It is among the few alts with double-digit gains over the past week and month.
The total crypto market has remained stable since yesterday, currently sitting at just over $2.450 billion in CG.
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