Pi Network’s PI Token Is Back in Green as Bitcoin (BTC) Struggles at $68K: Market Watch

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PI has returned to the top 50 alts by market cap, while M has exploded by double digits.

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Summarize with AI

Summarize with AI

Bitcoin was stopped once again at the coveted $70,000 resistance yesterday, and the asset slipped by over two grand in the following hours, currently struggling below $68,000.

Most larger-cap alts have continued their sluggish business week performance, with XRP well below $1.50 and DOGE dipping below $0.10.

BTC Below $68K Again

The primary cryptocurrency reacted well to the price drop on February 6 when it plunged to its lowest position since October 2024 at $60,000. After losing $30,000 in just over a week, the asset went on the offensive and almost immediately rocketed to $72,000.

It faced resistance at that point and spent the following days trading between $68,000 and $72,000. The lower boundary gave in last Friday, but the bulls quickly intercepted the move and didn’t allow further declines.

Just the opposite; BTC started to recover some ground over the weekend and neared $71,000 on a couple of occasions. It couldn’t continue north, though, and the subsequent rejections pushed it south to under $68,000 yesterday after another unsuccessful breakout attempt.

Bitcoin continues to trade below that level as of press time, with its market cap declining further to $1.355 trillion on CG. Its dominance over the alts has also been hit and is now below 56.5%.

BTCUSD Feb 17. Source: TradingView

PI Back in Top 50

Ethereum has failed at reclaiming the $2,000 resistance after another minor daily decline. XRP has lost the $1.50 support following a 2.3% drop since yesterday. The OG meme coin is beneath $0.10 as it nearly erased all gains posted during the weekend. SOL, ADA, HYPE, and LINK are also slightly in the red, while BNB and TRX have posted insignificant gains.

Pi Network’s native token has turned green daily, jumping to almost $0.18. Recall that the asset went through a wild ride in the past week, from an all-time low of $0.1312 to a local peak of over $0.20 before it settled now. Nevertheless, it has returned to the top 50 alts by market cap as its own is at $1.6 billion.

The other big gainers from the top 100 alts are STABLE (15%), M (14%), and NEXO (8%). The total crypto market cap, though, has slipped back down to $2.4 trillion on CG.

Cryptocurrency Market Overview Daily Feb 17. Source: QuantifyCrypto

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Source: https://cryptopotato.com/pi-networks-pi-token-is-back-in-green-as-bitcoin-btc-struggles-at-68k-market-watch/