Bitcoin (BTC) briefly dipped below $103,000 earlier today, but bullish momentum helped the leading cryptocurrency rebound, pushing it back above this key level. Despite this defense, the broader altcoin market is suffering significant losses, with several major tokens deep in the red.
Bitcoin Holds the Line at $103K
After opening the week with a rally from under $104,000 to nearly $106,000—fueled by optimism around a newly struck US-China trade deal—Bitcoin (BTC) faced a sharp pullback. The asset fell to just under $101,000, marking its weekly low.
Bulls, however, were quick to respond, preventing a drop below the psychological $100K threshold. Since then, BTC has seen renewed buying interest, gradually recovering to trade between $102,500 and $104,000, where it currently consolidates.
At the time of writing, Bitcoin’s market cap remains comfortably above $2.05 trillion, and its dominance over altcoins has climbed to 60.4%, highlighting its relative strength in the current downturn.
Altcoins Dive, PI Leads the Losses
While Bitcoin holds firm, altcoins are under pressure. Several high-profile assets have registered notable declines in the past 24 hours:
- Ethereum (ETH) has dropped below $2,500, falling 3%.
- Dogecoin (DOGE) and Shiba Inu (SHIB) are also down by over 4%.
- Chainlink (LINK) mirrors the trend with a similar decline.
However, the most severe loss comes from Pi Network (PI). The token has plunged 20%, slipping below $0.70 and continuing a steep downward trajectory that has alarmed investors.
Other altcoins feeling the pressure include PEPE, UNI, ONDO, AAVE, NEAR, and APT, all of which are trading in the red.
Market Cap Sheds $70B
The total crypto market capitalization has dropped by over $70 billion in just one day, now standing at approximately $3.4 trillion, according to CG data. This sharp correction reflects growing caution in the market, especially among altcoin holders.
