Right then, what’s all this fuss about Bitcoin, eh? Seems the blighter dipped a toe below the $103,000 mark earlier today, causing the sort of panic you usually only see when the butler announces there’s no more gin. 🍸 However, the bullish chaps, bless their cotton socks, managed to rally the troops, and the asset is now back, perched precariously above that level.
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View Urgent ForecastAlas, while Bitcoin plays its little game of financial peek-a-boo, several altcoins have decided to take a rather dramatic tumble down the stairs. Leading the charge into the abyss is PI, which has suffered another double-digit price plunge. One almost feels sorry for them, almost.
BTC Stays Calm(ish)
Bitcoin, ever the stalwart sort, began the week on a high note, shooting up from under $104,000 to a multi-month peak of nearly $106,000. This, apparently, was all thanks to some trade deal struck by the Yanks and the, er, other chaps. 🤝
However, our beloved BTC couldn’t quite maintain the stiff upper lip and promptly dropped five grand in the following hours, reaching a weekly low of under $101,000. Good heavens! Still, the bulls, those indefatigable fellows, wouldn’t allow a breakdown beneath $100,000, and thus began the recovery, pushing it back to $105,000 by Thursday. One suspects a strong cup of tea was involved. ☕
Another rejection followed, and more volatility ensued on Friday, but overall, Bitcoin has managed to remain in a relatively tight spot between $102,500 and $104,000. The past 24 hours have brought more minor fluctuations, and BTC now stands close to the upper boundary. One might call it a “nail-biter,” if one were prone to such melodramatic expressions.
Its market cap has remained above $2.050 trillion on CG, while its dominance over the alts has risen by over 0.5% daily to 60.4%. Seems Bitcoin is rather pleased with itself, puffing out its chest like a prize-winning rooster. 🐔
PI Keeps Dumping (the Bad Kind)
Most larger-cap alts have turned a rather unattractive shade of red in the past 24 hours. ETH has slipped below $2,500 after a 3% daily decline. A similar nosedive is evident from DOGE, while SHIB and LINK have dropped by over 4%. It’s all rather frightful, really.
However, PI leads the pack in terms of the biggest daily losses. Pi Network’s native token has plummeted by 20% and sits below $0.7. One imagines there are some rather glum faces over at Pi Network HQ. 😞
Other larger-cap alts in the red today include PEPE, UNI, ONDO, AAVE, NEAR, APT, and more. It’s a regular rogues’ gallery of financial misfortune.
The total crypto market cap has seen over $70 billion disappear in a day and is down to $3.4 trillion on CG. One can only assume it’s all gone to fund someone’s extravagant yacht purchase. 🛥️
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2025-05-17 12:02