Bitcoin’s recent surge past $70,000 was short-lived as it faced rejection at $71,800, leading to a decline of over two thousand dollars below that peak. Most major altcoins are experiencing losses, yet ICP and PI stand out with remarkable gains today.

Bitcoin Dips Below $70K

A week ago, Bitcoin reached a high of $74,000 after a significant jump from a low of $63,000, coinciding with rising geopolitical tensions in the Middle East. However, this upward momentum could not be sustained, resulting in a drop to $68,000 over the weekend.

As the conflict escalated, Bitcoin fell to $65,600 on Monday morning, reflecting overall market trends. Thankfully, it rebounded quickly after claims that the war is nearing an end. Bitcoin even touched $71,800 but was soon rejected and continues to trade below $70,000, currently at a market cap of $1.390 trillion, with its market dominance falling below 57%.

Gains for ICP and PI

Although Ethereum is down over 2% and just clings to the $2,000 mark, BNB has dropped to $640. XRP is under pressure, losing the $1.40 support, while LINK and others like HYPE, SOL, and ADA have seen more significant declines.

In contrast, ICP has defied the broader market trends, surging by approximately 12% to $2.7 following its recent listing on Upbit. Similarly, the PI token from Pi Network has risen by 6%, approaching almost $0.23.

The total cryptocurrency market cap has seen a drop of roughly $50 billion within the last day, now standing at approximately $2.450 trillion.