The cryptocurrency market started the week without major variations, maintaining prices close to those recorded in recent days. Bitcoin (BTC) is currently trading near US$ 84,428.61, down 2% in the last 24 hours.
Similarly, most cryptocurrencies are down today. The positive highlight was the MOVE token, which rose 5% in the last 24 hours. The negative highlight was the Pi Network (PI) cryptocurrency, which fell more than 25%, reaching a price close to US$ 1.31 and is now trying to recover its losses, trading close to US$ 1.40.
In this article, we will discuss:
**Bitcoin price**
Bitcoin, which had been relatively stable, has fallen by approximately 2% and is currently trading at around $84, with the risk of further losses. The cryptocurrency briefly broke through the $85,500 support and is now heading towards the $81 zone if the bears continue to act.
In recent days, BTC has been trading within a wide range, oscillating between $78 and $95, influenced especially by external factors, such as the trade war driven by US President Donald Trump. The Republican recently announced a strategic reserve of Bitcoin for the United States, categorically stating that the country would adopt a “never sell your BTC” stance.
**Why is Bitcoin falling now?**
During the White House event on March 7, Trump brought together big names in the crypto sector, but the impact expected by analysts, in the form of great volatility, did not materialize. In fact, the cryptocurrency showed relatively restrained behavior after the announcement, reflecting a classic market movement known as “selling the news.”
Another factor awaited by the market is the release of the US Consumer Price Index (CPI) data, scheduled for March 12. This data is fundamental for the Federal Reserve’s future decisions on interest rates, historically related to Bitcoin’s volatility.
**Cryptocurrencies today**
Currently, BTC’s market cap hovers around $1.7 trillion, maintaining its dominance over altcoins at around 58.2%.
Among altcoins, the situation is similar, with Ethereum (ETH), Solana (SOL), Avalanche (AVAX), and Uniswap (UNI) recording small gains. On the other hand, cryptocurrencies such as Ripple (XRP), Binance Coin (BNB), Cardano (ADA), Dogecoin (DOGE), Tron (TRX), and Shiba Inu (SHIB) are showing discreet declines.
One recent negative highlight is Pi Network (PI), which has seen a sharp drop in value over the past 24 hours. The cryptocurrency has fallen by around 20%, trading at around $1.57. This is significantly below its all-time high of around $3, reached in late February.
With this movement, the total capitalization of the cryptocurrency market fell to approximately US$ 2.92 trillion, representing a daily decline of 1.8%.