Pi Network’s PI dumps 7% daily, Bitcoin (BTC) stopped at $93K: Market Watch

PI has lost some of its recent momentum over the past 24 hours.

Most larger-cap alts are also in the red on a daily basis, with some notable price drops from the likes of PUMP, SOL, and ADA.

BTC progress stopped at $93K

The price disaster on November 21 pushed Bitcoin to its lowest level since April, below $82,000. This meant that the cryptocurrency had lost more than $25,000 in just ten days.

At this point the bulls finally acted and helped defend the $80,000 support. In the following days, BTC recovered some ground and stabilized around $84,000. It started to recover more impressively early in the business week, challenging the $88,000 resistance a few times.

Although it initially held steady, BTC managed to break through that on Wednesday evening, jumping to $90,000. The price continued its rise Thursday and Friday, peaking yesterday at just over $93,000. After recovering over $12,000 from multi-month lows, bitcoin faced some resistance and was pushed south to $90,300 earlier today.

It defended that level and is now around $90,500 at the time of writing. The market cap for CG has remained above $1.8 trillion, while alt dominance stands at 57%.

Alts in red

Most altcoins have mimicked BTC’s performance over the past 24 hours, posting some losses. ETH is about to break below $3,000 again, XRP is below $2.40, while SOL and ADA are down 3-4%. Even more notable declines come from companies like SHIB, CC, PUMP and HASH.

Pi Network’s PI token has lost some of its recent momentum, falling 7% over the past 24 hours to well below $0.25. In contrast, M is up over 16% daily, while QNT is up 8%.

The total crypto market cap fell by $50 billion in one day, falling to $3.170 trillion on CG.