Pi Network’s PI Token Falls Out of Top 50 Alts, Bitcoin (BTC) Stopped at $82K: Market Watch
Bitcoin initiated another breakout attempt in the past 12 hours or so, only to be rejected once again at $82,000 and driven south by more than a grand.
Most larger-cap alts have remained relatively flat on a daily scale, aside from ETH, which is under $2,300 once again. XRP and BNB keep fighting for the fourth spot in terms of market cap.
BTC Stopped at $82K
The previous business week saw a notable price surge from the larger cryptocurrency to a three-month peak of almost $83,000. Thus, the asset had added $8,000 from the previous Wednesday, and it seemed primed for a correction as many analysts warned about the rally’s structure.
BTC indeed slipped to $79,000 by Friday before the bulls stepped up and didn’t allow another breakdown. Instead, bitcoin started to recover some ground and quickly returned to over $80,000 during the weekend.
More volatility ensued on Monday morning when BTC first dipped to $80,250, before it shot up to $82,500, but it was rejected and dropped by two grand immediately when US President Trump deemed Iran’s latest peace proposal “totally unacceptable.”
It bounced again yesterday, but this time, its attempt was halted at $82,000. The subsequent rejection brought it south to a familiar territory of under $81,000, where it currently sits. Its market cap remains sideways at $1.620 trillion on CG, while its dominance over the alts is up to 58.3%.
BTCUSD May 12. Source: TradingView
BUILDon Enters Top 100, PI Exits Top 50
Today’s top performer from the largest 100 alts is BUILDon (B). The token is up a mind-blowing 44% to $0.63, making it the 93rd-largest cryptocurrency by market cap. In contrast, PI’s continuous declines have pushed the asset out of the top 50 alts by the same metric, after a 6% weekly decline.
CRO, STABLE, TON, and CC follow suit in terms of daily gains, while JUP, VVV, and PUMP have declined the most.
Ethereum has slipped by 2% daily and now trades well below $2,300. XRP, BNB, SOL, and DOGE have posted minor gains, while HYPE, ZEC, and LINK are down by over 1%.
The total crypto market cap has remained at the same level as yesterday, at around $2.8 trillion on CG.
Cryptocurrency Market Overview May 12. Source: QuantifyCrypto
The post Pi Network’s PI Token Falls Out of Top 50 Alts, Bitcoin (BTC) Stopped at $82K: Market Watch appeared first on CryptoPotato.
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