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Pi Network’s PI Token Slips Again as Bitcoin (BTC) Taps $81K: Weekend Watch
TL;DR
Bitcoin's price rebounded to $81,000 after dipping to $79,000. Most altcoins declined, but ETH, XRP, and BNB maintained their support levels.
Key points
- Bitcoin rebounded to $81,000 after a dip to $79,000
- Most altcoins declined while ETH, XRP, and BNB held support
- Bitcoin reached a three-month peak near $83,000 before correction
BTCBitcoinETHEthereumBNBBNBSOLSolanaXRPXRPADACardanoLINKChainlinkUNIUniswapICPInternet ComputerXLMStellar
Bitcoin’s price rebounded impressively from the dip to $79,000 on Friday and, although the volatility has remained mostly muted, it managed to climb gradually to $81,000 yesterday.
Most altcoins have turned red on a daily scale after the Saturday gains, but ETH, XRP, and BNB managed to remain above their key respective support levels.
BTC Tapped $81K
The business week began with substantial price volatility for the primary cryptocurrency, which rose past $80,000 on Monday for the first time since late January before it dumped to $78,400 after some reports that Iran had hit a US Navy vessel. However, the attacks were refuted by the US, and BTC quickly reclaimed the $80,000 level.
Moreover, the bulls stepped on the gas pedal in the following couple of days and pushed the asset to a new three-month peak at almost $83,000. After gaining $8,000 in a week or so, bitcoin was due for a correction and slipped to $79,000 on Friday.
Nevertheless, it bounced after that dip and reclaimed $80,000 yesterday after US President Donald Trump announced a three-day ceasefire between Ukraine and Russia. It even reached $81,000 briefly, but couldn’t stay there and now remains inches below that level.
Its market cap remains above $1.610 trillion on CG, while its dominance over the alts is north of 58%.
BTCUSD May 10. Source: TradingView
Alts Retrace
Most altcoins registered impressive gains yesterday, including some double-digit price pumps from mid-cap alts. Now, though, red dominates most charts. ICP and WLFI have dumped the most by 9%, followed by a 7.5% decline from ONDO. ZEC, XLM, LINK, HYPE, DOGE, and ADA are also well in the red.
Q&A
What caused Bitcoin to rise to $81,000?
Bitcoin's rise to $81,000 was driven by a recovery from a previous dip and overall bullish market sentiment.
How did altcoins perform during Bitcoin's price increase?
Most altcoins turned red, with only ETH, XRP, and BNB remaining above their key support levels.
What was the impact of the reported attack on a US Navy vessel on Bitcoin's price?
The reported attack initially caused Bitcoin to drop to $78,400, but the price quickly recovered after the claims were refuted.
