These Altcoins Plunge Hard but Bitcoin (BTC) Maintains $103K (Market Watch)

Bitcoin’s price slipped below $103,000 earlier today, but the bulls managed to defend that level, and the asset is back well above it now.

However, several altcoins have marked massive losses over the past day, led by another double-digit price plunge from PI.

BTC Stays Calm

Bitcoin started the business week on the right foot as its price shot up from under $104,000 to a multi-month peak of just shy of $106,000. This came as a direct consequence of the trade deal struck by the US and China.

However, the asset couldn’t maintain its run and dropped by roughly five grand in the following hours to a weekly low of under $101,000. Nevertheless, the bulls didn’t allow a breakdown beneath $100,000, and the cryptocurrency began its recovery that pushed it to $105,000 by Thursday.

Another rejection followed, and more volatility ensued on Friday, but overall, bitcoin has been able to remain in a relatively tight range between $102,500 and $104,000. The past 24 hours brought some more minor fluctuations around these levels, and BTC now stands close to the upper boundary.

Its market cap has remained above $2.050 trillion on CG while its dominance over the alts has risen by over 0.5% daily to 60.4%.

PI Keeps Dumping

Most larger-cap alts have turned red in the past 24 hours. ETH has slipped below $2,500 after a 3% daily decline. A similar nosedive is evident from DOGE, while SHIB and LINK have dropped by over 4%.

However, PI leads the pack in terms of the biggest daily losses. Pi Network’s native token has plummeted by 20% and sits below $0.7.

Other larger-cap alts in the red today include PEPE, UNI, ONDO, AAVE, NEAR, APT, and more.

The total crypto market cap has seen over $70 billion disappear in a day and is down to $3.4 trillion on CG.