Bitcoin Stabilizes as Pi Token Struggles Below Key Resistance

Bitcoin has maintained a tight trading range after being rejected at $87,000 and finding support at $85,000. The cryptocurrency experienced significant volatility in the past week, briefly surpassing $87,000 before dropping sharply due to unexpected market reactions. Despite a rebound over the weekend, Bitcoin faced another rejection at the same resistance level and has since stabilized between $85,000 and $86,000. Its market capitalization currently stands at $1.720 trillion, with a dominance of 59% over altcoins.

Most larger-cap altcoins have shown sluggish movement over the past 24 hours, with BTW gaining 5% and RAIN dropping 7%. Ethereum remains above $2,700, while XRP is trading at $1.50. Other major altcoins like BNB, SOL, DOGE, and LINK are slightly in the red, while NEAR and BTW have seen gains of 4-5%. Monero has rebounded to $580.

Pi Network’s PI token continues to struggle below the key $0.09 resistance level, currently trading at $0.088. Among the top 100 alts, FIL and ZRO have shown the most significant gains, surging by 8-9%. The total crypto market cap remains steady at $2.9 trillion.