Despite all the latest developments on the tariff front in the US, bitcoin’s price has remained relatively stable during the weekend, and continues to trade around $68,000.
Most larger-cap alts have produced little to no volatility as well over the past day, but some, such as Pi Network’s native token, have slipped once again.
Bitcoin marked some gains last weekend after it bounced from the then-low of $65,200. In just a few days, it jumped to almost $71,000 for the first time in about a week. This Sunday surge, though, came to an end as the business week began, and a few consecutive leg downs by the bears drove the asset down to $65,600 on Thursday.
It tried to rebound on Friday and Saturday again, as the bulls managed to take it to a local peak of $68,800. Interestingly, these minor gains came even after some controversial moves on the tariff front, a topic that has typically resulted in more volatility and price declines for BTC.
On Friday, the US Supreme Court ruled that many of Trump’s imposed tariffs were illegal. The POTUS was livid, calling the decision a “disgrace,” and quickly announced a global 10% tariff on top of the existing ones. On Saturday, he raised it to the maximum allowed of 15%.
Although bitcoin now trades below its weekend high, it’s still around $68,000. More volatility could be expected on Sunday evening when the futures markets open, similar to what happened several weeks ago during the EU tariff saga over Greenland.
For now, though, BTC’s market cap stands at $1.360 trillion on CG, while its dominance over the alts is at 56.6%.
Pi Network’s first anniversary after the launch of its Open Network has not had any positive effect on the underlying asset’s price performance. PI is among the poorest performers in the past 24 hours, losing 6% of value and struggling below $0.165.
Other notable losers include ETC ($8.80 · Live) (-8%), ARB ($0.10 · Live) (-7%), and ENA ($0.10 · Live) (-7%). In contrast, PIPPIN has jumped by more than 17% to almost $0.60.
Most larger-cap alts are also in the red, albeit in a more modest manner. DOGE ($0.10 · Live), ADA ($0.28 · Live), and HYPE ($29.50 · Live) have lost the most value (around 3% each), while XRP ($1.42 · Live), LINK ($8.80 · Live), and CC ($0.16 · Live) are down by 1%. ETH ($1,972.67 · Live), SOL ($85.11 · Live), TRX ($0.29 · Live), and BCH ($572.96 · Live) have marked insignificant gains.
The total crypto market cap has remained above $2.4 trillion on CG.
Cryptocurrency Market Overview Daily Feb 22. Source: QuantifyCryptoThe post Pi Network’s PI Token Plunges Again, Bitcoin (BTC) Stable at $68K: Weekend Watch appeared first on CryptoPotato.