After Major Listing, Pi Network's PI Surges While Bitcoin Keeps Struggling Below $70K
The latest market update highlights Pi Network's significant gains following a major exchange listing, while Bitcoin faces persistent challenges below the $70,000 mark.
Bitcoin has once again failed to break past the $71,000 resistance, lingering below $70,000 after a recent turbulent trading session, influenced by ongoing geopolitical developments in the Middle East.
Ethereum managed to maintain its position above the $2,000 mark, while Pi Network’s token has surged following the announcement of its trading launch on Kraken, climbing nearly 5% to reach a peak of $0.24.
Bitcoin’s Dilemma: Below $70K Again
Following a surge to nearly $74,000 last week, Bitcoin fell sharply, hovering around $68,000, and eventually dropping to $65,600 as legacy markets reopened on Monday morning. After a brief recovery attempt, it has since lost the crucial support at $70,000, now trading just under that level.
The market cap for Bitcoin remains just below $1.4 trillion, with its dominance over the altcoins under 57%.
BTC Price Chart
BTCUSD chart as of Mar 12. Source: TradingView
Adoption Surge for Pi Network
In the altcoin space, Pi Network’s upward trend is notable, attributed largely to Kraken’s announcement regarding its listing. Alongside this, HYPE has seen an impressive increase of over 8% in a single day. The overall crypto market cap stabilizes at around $2.450 trillion.
Cryptocurrency Market Overview
Crypto Market Overview as of Mar 12. Source: QuantifyCrypto
