Bitcoin bounced back after falling below the $62,000 mark, while Pi Network’s PI token continued its steep decline, setting yet another all time low as selling pressure persisted across the broader crypto market.
Among major altcoins, DEXE joined PI as one of the day’s biggest losers, while HASH stood out with a rally of more than 25%.
Bitcoin Recovers After Geopolitical Selloff
Bitcoin’s recent price action has been dominated by macro events and geopolitical tensions.
Last week, the market initially reacted to Strategy’s announcement that it had sold a large portion of its Bitcoin holdings. The news sent BTC tumbling from around $64,000 to nearly $61,200, before buyers stepped in and pushed the asset back above $64,600 within hours.
The recovery proved short lived as renewed military tensions between the United States and Iran reignited risk aversion across financial markets. Bitcoin slipped again, this time falling to roughly $61,600, before recovering over the weekend to trade near $64,000.
The latest wave of selling came after President Donald Trump reinstated the US Navy blockade in the Strait of Hormuz, sending Bitcoin to another multi day low of approximately $61,800. The cryptocurrency has since rebounded by nearly $1,000, although it remains about 3% lower over the past month.
Bitcoin’s market capitalization remains below $1.26 trillion, while its market dominance has held steady at 56.7%, according to CoinGecko.
PI Token Hits Another All Time Low
Pi Network’s native token continues to rank among the weakest performers of the current market cycle.
After failing to break above $0.30 in March, PI has remained under persistent selling pressure, repeatedly setting new record lows. Following yesterday’s decline to $0.086, the token fell even further over the past 24 hours, dropping to just above $0.07 and marking another all time low.
DEXE also posted double digit losses after its recent rally lost momentum.
On the other hand, HASH led the day’s gainers with a surge of more than 25% to around $0.0095, while BDX climbed roughly 10% to trade near the same price level.
Altcoins Remain Under Pressure
The broader altcoin market continued to weaken, with Ethereum, XRP, Solana, TRON, Dogecoin, Rain, and Stellar posting losses of up to 2% over the past day.
Meanwhile, Hyperliquid (HYPE), Zcash (ZEC), and Stellar (XLM) recorded steeper declines of more than 3%.
As losses spread across the market, the total cryptocurrency market capitalization fell by another $20 billion, dropping below $2.22 trillion, according to CoinGecko.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
