The Value of Pi Network Plummets Again as Bitcoin Rebounds to $114K: A Look at the Market

Bitcoin's instability persisted over the last 24 hours, falling below $113,000 after being rejected at $116,000. Other cryptocurrencies, including XRP, SOL, HYPE, XLM, LTC, and TON, experienced significant price drops. Bitcoin's volatility began last week when the US Federal Reserve decided not to lower key interest rates for the fifth time in a row.

After a brief increase, global uncertainties led to a sharp decline in Bitcoin's value. However, it managed to recover slightly, trading around $114,000 with a market cap just under $2.270 trillion. Meanwhile, Ethereum is hovering around $3,600, and other altcoins, including the Pi Network’s native token, have experienced losses. The total market cap of all crypto assets has fallen by another $30 billion, standing below $3.8 trillion.