On the other hand, PIPPIN once again became the best performer, with a daily increase of 17%.
Despite all the latest developments on the tariff front in the United States, the price of bitcoin remained relatively stable over the weekend and continues to trade around $68,000.
Most larger-cap alternative assets also generated little to no volatility over the past day, but some, like Pi Network’s native token, fell once again.
BTC calms at $68,000
Bitcoin posted gains last weekend after rebounding from the then-low of $65,200. In just a few days, it climbed to nearly $71,000 for the first time in about a week. This Sunday surge, however, ended at the start of the business week, and a few consecutive bear declines sent the asset down to $65,600 on Thursday.
It attempted to rebound again on Friday and Saturday, as the bulls managed to take it to a local high of $68,800. Interestingly, these minor gains came even after some controversial moves on the pricing front, a topic that has generally led to greater volatility and lower BTC prices.
On Friday, the U.S. Supreme Court ruled that many of Trump’s tariffs were illegal. The POTUS was furious, calling the decision a “disgrace” and quickly announced a global tariff of 10% on top of existing ones. On Saturday, he raised it to the maximum allowed 15%.
Although bitcoin is now trading below its weekend high, it is still around $68,000. We could expect more volatility on Sunday evening when the futures markets open, similar to what happened several weeks ago during the EU tariff saga over Greenland.
However, as of now, BTC’s market cap stands at $1.360 trillion on CG, while its dominance on alts is 56.6%.
PI declines (again)
The first anniversary of Pi Network after the launch of its open network had no positive effect on the price action of the underlying asset. PI is among the worst performers over the past 24 hours, losing 6% of its value and struggling below $0.165.
Other notable losers include ETC (-8%), ARB (-7%) and ENA (-7%). On the other hand, PIPPIN jumped more than 17% to reach almost $0.60.
Most larger-cap alternative stocks are also in the red, albeit more modestly. DOGE, ADA, and HYPE have lost the most value (around 3% each), while XRP, LINK, and CC are down 1%. ETH, SOL, TRX and BCH saw insignificant gains.
The total crypto market cap remained above $2.4 trillion on CG.
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