Pyth Network's Price Drop Attributed to Normal Market Volatility

The price of Pyth Network (PYTH) has seen a significant drop over the last ~20 hours, but experts say it's just normal market volatility.

A 3.62 percentage-point move is considered modest and could be attributed to a soft day for crypto overall.

PYTH's price action looks like routine trading rather than a structural break, with a 2.65% drop over the last 24 hours and a 7-day gain of 8.66% still intact.

The broader market backdrop was mildly risk-off, with a 1% decline in total crypto market cap and altcoin market cap slipping by around $4 billion.