Pi Network Surges 40% Weekly as Bitcoin Battles Near $68K
Pi Network’s PI token led weekly gains among major cryptocurrencies, rising over 40% to approach $0.19 after hitting a new intra-week low of $0.1312. PI also added roughly 6% on the day. Bitcoin (BTC) remained rangebound around $68,000–$72,000 after a volatile spell that saw it plunge to $60,000 and recover rapidly; BTC currently trades just above $68,000 with a market cap near $1.365 trillion and dominance at 56.2%. Ethereum (ETH) climbed about 2% to just above $2,000. WLFI posted the largest 24‑hour rally among larger-cap altcoins, rising over 17% to above $0.115. The total crypto market capitalization increased by about $25 billion to $2.43 trillion. Key trading takeaways: PI’s sharp weekly advance may draw short-term speculative flows and higher volatility; BTC’s repeated rejections near $72K suggest supply at that level and fragile support around $68K — traders should watch for break/hold of these boundaries; ETH’s modest gains keep it tethered near $2K, while select alts (WLFI) show strong short-term momentum.
Neutral
The report highlights a strong weekly rally in PI and notable short-term gains in select altcoins (WLFI), while Bitcoin remains rangebound near a key resistance zone. PI’s 40% weekly surge signals heightened speculative interest and short-term volatility for that token, which can attract momentum traders but may also prompt profit-taking. However, BTC — the market benchmark — shows no decisive directional breakout: repeated rejections near $72K and fragile support around $68K point to a balanced battle between buyers and sellers. Broad market capitalization rose modestly (~$25B), but no systemic catalyst (e.g., major ETF approval, macro shock) is cited to drive a sustained directional trend. Historically, large rallies in single tokens often produce localized bullishness for that asset and correlated flow into small-cap alts, while BTC consolidation near a psychological level tends to keep overall market sentiment cautious. Therefore, expect short-term trading opportunities (momentum plays in PI and WLFI; range strategies in BTC/ETH) but limited conviction for a broad, sustained bull run until BTC breaks and holds a clear level above $72K or falls decisively below $68K.