Bitcoin (BTC), the premier cryptocurrency, has shown signs of stability around the $83,500 mark following a tumultuous week influenced by global economic happenings. Earlier, the digital asset witnessed a significant dip to $81,200, following which it demonstrated resilience and bounced back almost instantly.
Wednesday saw a peak in the price after news broke out about Elon Musk’s decision to step back from President Trump’s advisory group, pushing Bitcoin to a high of over $88,000. However, the coin observed an immediate depreciation of over six thousand dollars following ‘Liberation Day’ and the subsequent tariffs imposed by the POTUS.
More instability was observed towards the weekend’s end as other nations reacted to the situation. BTC faced resistance at $85,000 multiple times, while the $81,000 support level prevented further fall in the price. As of the present, Bitcoin is valued at around $83,500, with a static market cap of $1.660 trillion and a slightly reduced dominance over altcoins of just under 60% according to CG.
In other news, the native token of Pi Network, PI, has finally broken its continuous downward curve and has witnessed a 9% surge in the last 24 hours. Despite hitting an all-time low recently, the token is now valued at $0.6. However, its monthly performance remains disappointing with a 69% drop.
Among the other altcoins, OKB stands out with a similar surge to over $51. TON, on the other hand, has observed a sharp decrease (-7%), followed by LEO and ICP. SOL, XRP, and DOGE have noted minor increases, while BNB, ADA, and TRX have experienced insignificant losses over the past 24 hours.
The total cryptocurrency market cap has added around $60 billion since yesterday’s low, currently standing at $2.780 trillion on CG.
