Bitcoin returns to $114,000! Pi Network sees a big dump and hits a new low, altcoins are under pressure across the board.

In the past 24 hours, the cryptocurrency market has once again experienced severe fluctuations. Bitcoin (BTC) faced strong selling pressure at the resistance level of 116,000 USD, causing its price to briefly fall below 113,000 USD, before recovering to around 114,000 USD. Meanwhile, Pi Network (PI) has once again suffered a big dump, nearing its historical low, while mainstream altcoins are generally in a pullback. This article will analyze the latest market dynamics, performance of mainstream tokens, and future risks.

Bitcoin price is experiencing severe volatility, and its market dominance remains solid

The Federal Reserve has rejected interest rate cuts for the fifth consecutive time, coupled with new tariffs and geopolitical uncertainties, which have become the main reasons for the recent volatility of Bitcoin. BTC fell to a low of $112,000 over the weekend, followed by a bullish intervention that pushed the price up, coming close to $116,000 yesterday, but ultimately failed to break through the resistance. Currently, BTC is priced at around $114,000, with a market capitalization approaching $2.27 trillion, and its dominance over alts is close to 60%.

Alts across the board are experiencing a pullback, with Pi Network suffering the most severe decline

Mainstream alts have fallen synchronously, with XRP, SOL, HYPE, XLM, LTC, and TON showing significant declines, and some assets experiencing a daily drop of over 4%. The native token of Pi Network has plummeted by 4%, approaching the historical low set last weekend. BONK and PENGU have seen drops of 6-7%, making them some of the weakest coins among the top 100 alts.

A few coins are rising against the trend, with MNT showing outstanding performance

Despite most Crypto Assets being under pressure, MNT has risen 2-3% against the trend, becoming one of the few alts that maintain their upward momentum. In contrast, LTC experienced a 5% pullback after a significant rise yesterday, indicating that short-term market fluctuations are intense, with a structural differentiation in fund flows.

Total market capitalization shrinks, market sentiment becomes cautious

The total market value of Crypto Assets evaporated by 30 billion USD in a single day, currently well below the 3.8 trillion USD mark. The market's fear and greed index has retreated, and investor sentiment is clearly becoming more cautious. In the short term, Mainstream Tokens and alts may continue to maintain a high volatility pattern, and investors are advised to closely monitor the support and resistance levels as well as macro policy trends.

Conclusion

Although Bitcoin has short-term rebounded to 114,000 USD, the overall market is still in a weak oscillating pattern. Pi Network and most alts are under continued pressure, and the risk appetite for capital has significantly decreased. It is recommended that investors operate cautiously, continue to pay attention to market dynamics and policy changes, and seize the turning points of long and short positions.