Altcoins Suffer Significant Declines While Bitcoin (BTC) Stays Steady at $103K (Market Update)

Earlier today, Bitcoin’s price fell below $103,000, but bulls managed to keep it above that threshold, and it has since climbed back up.

In contrast, many altcoins have experienced significant declines recently, particularly highlighted by a sharp drop in PI.

BTC Remains Steady

Bitcoin began the week positively, rising from just under $104,000 to a multi-month high near $106,000, influenced by a trade agreement between the US and China.

Yet, the asset could not sustain this upward movement and fell by about $5,000 within hours, reaching a weekly low of below $101,000. Fortunately, bulls prevented a drop below $100,000, allowing the cryptocurrency to recover to $105,000 by Thursday.

Another setback occurred, bringing further price fluctuations on Friday. However, Bitcoin has largely remained within a specific range of $102,500 to $104,000. The last 24 hours have seen minor variations within these levels, and BTC is currently closer to the upper limit.

Its market capitalization has stayed above $2.050 trillion, while its dominance over altcoins has increased by more than 0.5% within a day, now reaching 60.4%.

PI Continues to Decline

Most major altcoins have turned negative in the last 24 hours. Ethereum has dipped below $2,500 after a 3% decrease, with similar declines observed in DOGE, while SHIB and LINK have lost more than 4%.

Leading the losses is PI, which has plummeted by 20%, currently trading below $0.7.

Other notable declines among larger-cap altcoins include PEPE, UNI, ONDO, AAVE, and NEAR.

The overall cryptocurrency market cap has seen a reduction of over $70 billion within a day, bringing it down to $3.4 trillion.