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.
Alas, 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