Hold onto your hats, crypto enthusiasts, because the rollercoaster ride continues! Bitcoin, the king of cryptocurrencies, seems to be playing a game of “now you see me, now you don't” with investors' hopes. After teasing us by almost reaching $85,000, it took a nosedive, dropping a couple of grand. It’s like Bitcoin said, “Not today, folks!”
And while Bitcoin’s been doing its dance, PI has been taking a dive, leading the charge of altcoins on a downhill adventure. In a dramatic twist last week, Bitcoin went on a wild ride, plummeting by $9,000 in just two days to hit a four-month low. Just when it seemed like the party was over, the bulls charged in, pushing BTC back to nearly $80,000. It even flirted with $85,000 midweek thanks to some good news from the US CPI, but then it lost steam, spending the weekend just chilling around $84,000.
But, alas, another attempt to conquer $85,000 was thwarted, and now Bitcoin is hanging out below $83,000, licking its wounds after losing about two grand. The head honcho at CryptoQuant even hinted that the bull run might have hit a brick wall.
Currently, Bitcoin's market cap has slipped below the $1.650 trillion mark, and it's holding a 58.6% dominance over altcoins.
Today's red carpet of crypto is more of a red ink fest, with most altcoins seeing red. PI is leading the downturn, tumbling 16% in the last 24 hours and struggling to stay above $1.1. Solana, Cardano, Dogecoin, Ripple, Shiba Inu, and Litecoin are also feeling the pinch, with losses ranging up to 4%.
But not everyone is having a gloomy day! OKB is strutting its stuff with a gain of over 5%, comfortably above $50. AVAX, TRX, and TON are also bucking the trend with some solid gains.
In the grand scheme of things, the total market cap of all crypto assets has dipped by about $20 billion since yesterday, resting at $2.8 trillion. So, buckle up, because the crypto market is nothing if not unpredictable!
