Pi Network’s PI Defends a Critical Support, Bitcoin (BTC) Reclaims $78K: Weekend Watch
Bitcoin’s gradual price recovery after Friday’s dip below $77,000 continues into the weekend, with the asset barely moving past $78,000 today.
Most larger-cap alts have posted minor gains as well, but ETH remains below $2,500, BNB is still beneath $700, and XRP keeps fighting for $1.40.
BTC Taps $78K
The price explosion that took place within 48 hours in the middle of the month drove bitcoin out of its slumber, surging from under $65,000 to $80,000. Although the asset was stopped there at first and slipped below $75,500 last weekend, the bulls returned during the business week.
This time, they managed to push it beyond $80,000 and even $81,000 on a couple of occasions. The last attempt was on Thursday morning when BTC reached $81,500 for the first time in 15 weeks. However, its ascent was halted at this point, and it retraced hard on Friday to under $77,000.
This correction occurred after Kevin Warsh’s first speech at Jackson Hole, in which he maintained a hawkish stance. Nevertheless, the cryptocurrency has managed to reclaim some ground since then, rising above $77,000 yesterday and up to $78,150 as of press time on Sunday morning.
Its market capitalization has increased by roughly $15 billion in a day and is up to $1.570 trillion on CG. Its dominance over the alts is also on the rise, touching 58% on the same data aggregator.
PI Above $0.09, UNI Rockets
Ethereum is slightly in the green and now sits above $2,450, but it’s still below the key $2,500 level. BNB eyes $700 once again, while XRP can’t reclaim the $1.40 line. SOL, TRX, and HYPE are also slightly in the green, while ZEC is up by 3.5% to $830.
UNI has rocketed the most from this cohort of assets, surging by 11% to $4.9. CC and PUMP follow suit, while ENA has dumped the most, losing 3.3% of value.
Pi Network’s native token slipped below the crucial $0.09 support on Friday but has managed to defend it and now trades above $0.091.
The total crypto market cap has added around $30 billion daily, and is up to $2.740 trillion.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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