PI is up almost 20% since its last all-time low just a few days ago.
The altcoin space is also filled with notable winners: ETH soars towards $2,100, SOL goes to $86, and XRP targets $1.45.
BTC looks $70K
After dumping to $60,000 on February 6, the primary cryptocurrency bounced back to $72,000 almost immediately, but was unable to reach that level and was sent south towards $68,000. The following days were quite disappointing as BTC traded sideways between $68,000 and $72,000.
The upper limit rejected the last attempt on February 10 and bitcoin began to rapidly lose value, falling to $66,000 on February 12 and $65,000 on Friday morning. However, the bulls managed to defend that support and actually helped BTC reverse its trajectory.
They started a remarkable rise that took Bitcoin to $68,000 and $69,000 on Friday evening. After stalling there for several hours, the bulls pushed the value further to almost $70,000 on Saturday morning, but that resistance has yet to subside.
For now, Bitcoin’s market cap on CG has risen to $1.390 trillion, while its dominance over altcoins has remained relatively stable at 56.7%.
Alts on the rise
Ethereum is struggling mid-week as it fell below $2,000 after the latest leg down. However, it responded positively to this decline and is now close to $2,100, after a daily increase of 6%. XRP, which at one point fell to $1.35, is now at $1.45 after a similar daily increase.
Zcash is the biggest winner among the larger-cap alts. ZEC is up 20% to $280, followed by HBAR (9%), BCH (8%), XLM (8%) and LINK (6%). SOL has shipped to $86 after a daily increase of 7.3%.
Pi Network’s native token has finally shown some signs of revival. The stock is up 8% daily and 18% since its low just three days ago, prompting some analysts to speculate whether this is a sustainable recovery or just another death jump before another plunge.
The total cryptocurrency market cap added roughly $100 billion in one day, rising to $2.455 trillion on CG.
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