Pi Network’s PI Token Defies Altcoin Correction, Bitcoin Stopped at $120K: Market Watch
Main Idea
Bitcoin's attempt to surpass $120,000 was rejected again, while altcoins, except for a few like SOL and Pi Network's token, experienced significant losses.
Key Points
1. Bitcoin (BTC) failed to break the $120,000 resistance and dropped to around $116,000 before recovering slightly to $118,000.
2. Altcoins such as HYPE, XLM, HBAR, LTC, LINK, and AAVE saw substantial daily declines.
3. Ethereum (ETH) reached a multi-month peak near $3,800 but fell below $3,700 after a 4.5% drop.
4. Solana (SOL) and Pi Network's native token were exceptions, with SOL touching $200 and Pi Network's token rising over 6% to $0.477.
5. The total cryptocurrency market capitalization has decreased to below $4 trillion, with BTC's dominance at just over 59%.
Description
Bitcoin’s attempt to overtake the $120,000 milestone was stopped once again in its tracks, and the asset fell by nearly four grand in hours before it staged a recovery. The altcoins are well in the red after marking substantial gains yesterday, with HYPE, XLM, and HBAR posting the most substantial losses. BTC Rejected at $120K Ever since last Monday, when BTC reached its latest all-time high above $123,000, it has been unable to recapture its momentum, which has swung toward the altcoins. In the...
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