Bitcoin (BTC) Spikes Above $82K, Pi Network (PI) Explodes by 20% (Market Watch)
The cryptocurrency market has finally taken a breath of fresh air after being on an evident downtrend lately. In the past 24 hours, Bitcoin (BTC) briefly pumped to almost $84,000 before settling at just north of $82,000.
Most leading altcoins are also well in the green, with Pi Network (PI) taking center stage and witnessing a 20% price increase.
BTC Enters Green Territory Again
The last several days have been quite turbulent for the primary cryptocurrency. Its price reached almost $95,00 at the beginning of March after US President Donald Trump announced that his administration is working on establishing a strategic BTC reserve.
On March 4, though, the valuation tanked below $83,000 after the global trade war initiated by America’s political leader escalated. The bulls reacted quickly, pushing the price to as high as $92,300 on March 6, but the peak was short-lived.
The crypto market endured another collapse on March 11, with BTC sinking below $77,000 for the first time since November 2024. The last 24 hours have brought some relief to the asset’s proponents as the price briefly spiked to nearly $84,000. As of this writing, BTC is worth roughly $82,300 (per CoinGecko’s data).
Its market capitalization has surged past $1.6 trillion, while its dominance against the alternative coins remains unchanged at around 58.9%.
PI Leads the Altcoin Charge
The alternative coins have followed BTC’s resurgence, and some of them have even charted more substantial price spikes than the leader. Dogecoin (DOGE), Ripple (XRP), and Shiba Inu (SHIB) are among the notable gainers.
However, Pi Network’s native token – PI – outshined them all. Its valuation has exploded by over 20% in the last 24 hours amid speculations that Binance might become the next crypto behemoth to list the token.
Meanwhile, Tron (TRX) and MANTRA (OM) are among the very few top 100 cryptocurrencies whose prices have headed south for the day.
The total market capitalization of the sector currently stands at roughly $2.765 trillion, representing a 1% rise on a 24-hour scale.
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