Bitcoin Hits $65K, Pi Network's Token Leads Altcoin Rally
Bitcoin's price has been fluctuating over the past week, but it has finally reached $65,000 for the first time since Friday. However, it is yet to overcome this level and remains stuck at $64,000. Despite this, the asset's market cap has touched $1.3 trillion, and its dominance over other altcoins remains just below 57%. The cryptocurrency has been fighting to reclaim the $65,000 mark for several days.
The larger-cap alts have seen minor moves over the past 24 hours, with Ethereum climbing above $1,900 after a 2.2% daily increase. In contrast, most other altcoins are in the red, including minor losses from BNB, XRP, SOL, TRX, and DOGE. Pi Network's native token has emerged as today's top gainer, exploding by 15% at one point to a three-week peak before it was stopped.
The total crypto market cap has increased by approximately $40 billion and now sits at $2.3 trillion on QuantifyCrypto. This surge in the market cap is largely driven by Bitcoin's price action, as well as the gains made by Pi Network's token. The altcoin rally continues, with GT and BDX following suit in terms of daily gains.