Hold onto your hats, crypto fans! The rollercoaster ride of Bitcoin (BTC) has hit a slight dip, sliding down a teeny-tiny 0.4% today. But while BTC is just catching its breath, Pi Network’s token is taking a nosedive.
In the past 24 hours, the crypto seas have been calm, with most digital assets anchoring right where they were on March 8. BTC has been waltzing around the $86,000 mark, just a smidge down from its previous spot. But don't be fooled by this calm facade, as Bitcoin's been on a wild ride, swinging between $78,000 and $95,000.
Fueling this crypto drama is the latest spat in the trade war led by none other than US President Donald Trump. The big news? A bold move to create a strategic BTC reserve in the US. On March 7, Trump played host to a historic crypto pow-wow at the White House, rubbing elbows with crypto bigwigs and his team. He vowed to build this reserve and stick to a “never sell your BTC” mantra.
Many thought this would send BTC prices into a frenzy, but instead, it took a slight dip below $85,500 before bouncing back to around $86,000. So much for the “sell the news” hype!
Meanwhile, the market's on pins and needles as we wait for the US CPI data drop on March 12. This report is the Federal Reserve’s crystal ball for interest rate decisions, and it usually sets the crypto world a-twirl.
BTC's market cap is chilling around $1.7 trillion, holding its ground against the altcoins with a 58.2% dominance. The altcoin scene is a mixed bag, with Ethereum (ETH), Solana (SOL), Avalanche (AVAX), and Uniswap (UNI) inching up, while Ripple (XRP), Binance Coin (BNB), Cardano (ADA), Dogecoin (DOGE), Tron (TRX), and Shiba Inu (SHIB) take a tiny step back.
The biggest drama queen of the day? Pi Network (PI), with its value plummeting by 12%. Right now, it’s sitting at about $1.57, a far cry from its February high of nearly $3.
As for the grand total of all cryptocurrencies, the market cap is roughly $2.92 trillion, marking a 1.8% slide today. So buckle up, folks, because in the crypto world, you never know what’s around the corner!
