In recent days, Bitcoin’s price has experienced significant volatility, largely driven by the escalating tensions of Donald Trump’s trade war. However, the cryptocurrency has managed to stabilize around $83,500.
Many altcoins have also faced similar fluctuations in their prices. Notably, the Pi Network has shown signs of recovery, while TON has seen a substantial decline.
BTC Stabilizes at $83.5K
It has been a wild week for Bitcoin, influenced heavily by global economic events. The asset saw a decline down to $81,200 before rebounding quickly.
The peak in the price was reached on Wednesday when reports surfaced about Elon Musk’s departure from President Trump’s inner circle, causing Bitcoin to surge past $88,000. However, following what was dubbed ‘Liberation Day’, the introduction of new tariffs by the U.S. President resulted in a sharp drop of over $6,000.
Further volatility persisted throughout the weekend as other nations initiated similar measures. Bitcoin hit resistance at $85,000 multiple times, while the $81,000 support level has proven resilient.
Currently, Bitcoin trades at approximately $83,500, maintaining a market capitalization of around $1.660 trillion. Its dominance over altcoins has slightly decreased, hovering just under 60% on CoinGecko.
PI on the Rebound
After experiencing a prolonged period of price declines, the Pi Network’s native token has finally shown signs of recovery in the last 24 hours. The asset, which hit an all-time low just yesterday, has risen by 9% to settle at $0.60. Despite this rebound, its performance over the past month remains disappointing, down 69% overall.
Among larger-cap altcoins, OKB has also gained momentum, rising over 9% to surpass $51. Conversely, TON has suffered the most with a -7% decline, accompanied by similar downticks in LEO and ICP. Other notable cryptocurrencies like SOL, XRP, and DOGE have seen marginal gains, while BNB, ADA, and TRX have posted minor losses over the past 24 hours.
Overall, the total cryptocurrency market capitalization has increased by approximately $60 billion since yesterday’s low, currently standing at $2.780 trillion on CoinGecko.
