Bitcoin Nears Crucial Support Level as PI's Value Dips by 27% Daily (Market Overview)

Bitcoin's value ascent was halted at $104,000, and the asset has since decreased by more than two thousand dollars, nearing a vital support point. This downturn coincides with significant price drops in altcoins such as XRP, SOL, DOGE, ADA, SUI, AVAX, and others.

Bitcoin's surge last week was attributed to rumors of a US-China trade deal discussion, pushing its value past $100,000 and reaching up to $104,000. However, the cryptocurrency is now struggling to stay above $102,000 after a 2% daily drop. In the meantime, the altcoin market is experiencing significant losses, with Ethereum dropping to $2,530 and other coins seeing price declines of up to 7-8%. PI, in particular, suffered a spectacular 27% drop after a recent ecosystem announcement.

The total crypto market has lost approximately $100 billion daily, now valued at $3.4 trillion.