Pi Network (PI) Sees 10% Daily Drop, Bitcoin (BTC) Volatile at $84K (Market Watch)

The relatively calm weekend was disrupted yesterday with substantial volatility around the $84,000 mark after some large short positions opened on Hyperliquid.

Most altcoins are on a slight retracement today, while BNB has jumped by over 6%. PI, on the other hand, has dumped by almost 10%.

BTC Volatile at $84K

The previous business week went in a highly fluctuating manner, and it all started on Monday with a price slump from $86,000 to $80,000. After a brief recovery to $84,000, BTC headed straight south again on Tuesday and plunged to a four-month low of under $77,000.

Following this $9,000 decline in less than two days, BTC finally reacted positively and quickly reclaimed the $80,000 line. It kept climbing in the following days, especially after the positive US CPI data for February, and jumped above $85,000 on Wednesday.

However, that was another short-lived rally, and the momentum couldn’t be maintained. A drop to $80,000 followed, but BTC managed to defend that level and jumped to $84,000 over the weekend. Most of it was spent there, aside from a brief spike to $85,000 and a subsequent plunge to $82,000 after a trader opened a $366 million short on Hyperliquid.

As of now, BTC stands just under $84,000, with a market cap of $1.655 trillion on CG. Its dominance over the alts is at 58.6%.

BNB Up, PI Down

The biggest gainer from the larger-cap alts today is Binance Coin, which has jumped by over 5%. As a result, the asset now trades well above $630. In contrast, most other alts from this cohort are in the red.

ETH, XRP, ADA, and TRX are down by up to 1%, while SOL has plunged by over 3.5%. PI is the biggest loser, on the other hand, dumping by 10% to under $1.35.

More volatility comes from OKB and MNT, which have pumped by 5-6%, while TRUMP is down by 3%.

The total crypto market cap has declined by over $20 billion since yesterday and is well below $2.830 trillion on CG.